The g15 group of housing associations has announced a massive building programme to help address London’s housing crisis. They aim to build nearly 42,000 affordable homes by 2021.
The plans, which are detailed in bids for funding submitted to the Mayor of London’s Affordable Homes Programme, would deliver almost half of Sadiq Khan’s ambition of 90,000 new affordable homes. The housing associations, which have historically built a quarter of the capital’s new homes, would deliver a mix of shared ownership, London Affordable Rent and London Living Rent homes through the programme.
David Montague CBE, chair of the g15 and chief executive of L&Q Group said:
“The housing crisis is one of the most important issues facing London so it is vital that we do everything we can to help. That means building as many affordable homes as possible to rent and buy. These funding bids show we want to work in partnership with the Mayor to get the job done.
“Beyond these plans, we are all building traditional homes to buy and rent. If we can secure enough land to build on, and rally support we need to increase delivery from our partners, we can build many more homes. This shows the scale of our ambition.”
Of the 42,000 homes that will be delivered by g15 around two thirds are either already under construction or relate to identified sites. Final decisions on the funding bids are due to be in May 2017.
Currently g15 has a pipeline of 93,000 homes including 72,000 in London, due to be built by 2025. This also includes homes for sale and rent on the open market which further boost their contribution to London’s housing needs beyond plans in these bids. However, the associations want to do much more and have allocated the capacity in their organisations to start 100,000 homes in the next four years if they can work with partners in Whitehall, City Hall and local authorities to release land and create the conditions for faster building.