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24/08/2017

Khan announces first 100% affordable housing site

Words: Laura Edgar
Rent / iStock

Mayor of London Sadiq Khan has announced that a former industrial site in Walthamstow has been released for development with 100 per cent affordable homes for first-time buyers.

After taking over as mayor in May 2016, Khan instructed the Greater London Authority to buy the former Webbs Industrial Estate, a site that had been standing derelict for seven years.

The site attracted 13 bids, with housing association Catalyst selected as the preferred bidder. Catalyst will work in conjunction with partners including Swan Housing Association and architects C.F. Møller Architects, said the mayor’s office.

The former glass lampshade and bulb factory site will be regenerated to comprise 330 homes that will be available as shared ownership. In addition, the site will host a creative hub that is to provide more than 3,000 square metres of new affordable workspace and artist studios, a park area and retail space.

Khan said the profit from the sale of the land would be reinvested into providing more affordable homes.

“I’m working hard to identify more brownfield sites across London that we can use to build the thousands of genuinely affordable homes London so desperately needs. This site in Walthamstow shows the benefit of City Hall taking a greater role unlocking and bringing forward land for development – working closely with housing associations like Catalyst to deliver a scheme that is 100 per cent affordable for Londoners struggling to buy a home,” he said.

Clare Coghill, the leader of Waltham Forest Council, said: “We are really pleased that the first site of 100 per cent affordable London housing will be found in Waltham Forest, regenerating an old disused factory. We fully support the mayor’s affordable homes ambition and we are committed to making sure our residents have access to these homes.

“This is a great step forward to helping meet this need. At the same time, we want to grow the local economy and create jobs and opportunity, so the additional creative hub provides much-needed space for businesses, artists and residents. It is a win-win situation for all.”

The deal comes ahead of Khan setting out his plans for City Hall to take a greater role intervening in land decisions across the capital. More detail about the mayor’s plans will be in his London Housing Strategy, which is due to be published in draft for consultation next month.

Image credit | iStock

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