The Government has announced it will invest nearly £500 million in more than 11,000 affordable properties across the country, including properties for social rent. The Government has also backed a project to build rooftop properties in London on the top of existing buildings.
The funding boost, which will help the Government towards its target of building 300,000 properties a year by the mid 2020s, was announced at the London First Building Summit on 30th January. The strategic partnerships, agreed by Homes England, will give the successful housing associations the freedom to spend the money on the developments where it can have the biggest impact.
Alongside this, homes will be built on London rooftops by the summer after Homes England agreed a £9 million funding deal with Apex Airspace Developments. The properties – which will be built on five sites across the capital – are largely constructed off site before being winched on top of buildings, minimising disruption to residents. The first of the homes will be completed by the summer – and in total 78 rooftop homes will be built under the three year deal in Tooting, Wanstead, Walthamstow, Putney and Wallington. The Government’s revised planning rulebook encourages authorities to promote the use the airspace above existing residential and commercial premises for new homes.
Communities Secretary Rt Hon James Brokenshire MP said:
“By providing targeted investment in affordable homes, and funding innovative projects to build rooftop properties, we are making our housing market work for everyone. Our £500 million funding boost for housing associations will help them build thousands of extra affordable homes – including properties for social rent.”