A former biscuit factory in Southwark, London will be turned into 1,500 new homes, 35% of which will be affordable.Â
Last Friday (February 21), the deputy mayor for planning, regeneration and skills, Jules Pipe, gave the Â£500m build-to-rent project the go-ahead.
In May last year, the project was rejected on the basis that it did not comply with the councilâ€™s policy for affordable homes, with plans for only 27.5% of the homes to be classified as affordable.
However, under revised plans,35% of the properties will be affordable, including properties at a social rent level, and 342 of these properties will be offered at a discount market rent price.
Compass Secondary School will also benefit from the project, with new modern school facilities set to open in September 2023.
Jules Pipe said: â€˜The site has the potential to deliver more than 1,500 new homes in an area of London with a high demand for affordable housing, close to transport links and central London.
â€˜Overall, it will make a significant contribution towards the regeneration of this part of Bermondsey, having considered all the evidence available to me, I have decided to approve this application.â€™
However, members of Southwark council have expressed concerns about the project, Cllr Johnson Situ, cabinet member for growth, development and planning, said: â€˜We are disappointed with the decision to approve this project.
â€˜Whilst we recognise the small improvements in the number of affordable homes the site will offer, the application still fails to meet the councilâ€™s policies for social and genuinely affordable housing.
â€˜We believe the amount of social housing on offer could be a lot higher and it is disappointing that the application will now go ahead with so genuinely few affordable homes.â€™
In related news,Â earlier this yearÂ New StartÂ got in touch with Paul Hackett from the Affordable Housing Commission to discuss some of the issues with the UKâ€™s current housing market.
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