The The Homes and Communities Agency (HCA) London Board, chaired by the Mayor of London, Boris Johnson, has agreed to invest over £16 million in the latest two projects from its programme to 'kick start' developments in London that have been affected by the economic downturn.
The Board allocated over £13 million and £3 million respectively to Clapham Park in Lambeth and Hale Village in Haringey, to enable the immediate progression of these projects in spite of adverse market conditions. Both schemes will contribute to the Mayor's affordable housing targets.
The Clapham Park regeneration area is a 3,000-home estate situated between Brixton, Streatham, Balham and Clapham in the London Borough of Lambeth.
The HCA is working with Lambeth Council and Clapham Park Homes (part of Metropolitan Housing Partnership) and has agreed an investment of over £13m for additional affordable housing.
An initial investment of £3 million is being made by the HCA to ensure the development programme continues at Hale Village beside Tottenham Hale station. The £400 million regeneration scheme will act as catalyst for the wider regeneration of this part of North London.
A new urban village will be created on the site with mixed tenure homes, a hotel, commercial space, community facilities, high-quality public realm and green space.
The funding will enable Lee Valley Estates (LVE) and Newlon Housing Trust to complete the first phase of the development, which includes 314 homes. Independent to the funding, the first scheme to complete on Hale Village will be a 700 bed student accommodation complex, which will be ready for occupation in September 2009. It has been developed and will be managed by the UK’s leading student accommodation provider, the UNITE Group.
Hale Village and Clapham Park are the latest regeneration sites to be targeted for 'kick start' funding by the HCA's London Board. Five schemes were announced in March as part of the strategy to stimulate housing construction in the capital.
In the April Budgetl, the Chancellor announced a new national 'kick start' programme to be run by the HCA. £400 million will be made available to stimulate private sector house building nationwide, and the process will draw on the London experience.
Details of a new cross-Government strategy were announced, that stresses that good quality buildings and ample green infrastructure - parks, trees and waterways - are not a luxury that can be dropped during difficult economic circumstances.
In World Class Places, the Government pledges that all new public and private development will be built to the highest design standards. All new government-funded building programmes, including social housing, schools and health centres, will include improved design standards. Every significant public sector project could have the opportunity to be advised or reviewed by a team of design experts from the Commission for Architecture and the Built Environment (CABE).
The Government will also establish an integrated set of design quality standards for homes and neighbourhoods to ensure the quality of design does not slip. These will cover the key issues that are fundamental to good design, such as sustainable and practical development, and using design to discourage crime and address the needs of older people and disabled people.
The strategy recognises the need for an approach which works right across government, and brings together all the elements of the built environment.
Other key commitments include:
An action plan will be published at the end of the summer laying out delivery plans and timetables.