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After all the concerns raised and amendments requested by the Lords if you blinked you could have missed the Housing and Planning Act receiving Royal Assent last month. The Act was then closely followed, in the Queen’s Speech, by the announcement of a new Neighbourhood Planning and Infrastructure Bill.
The Government hopes that both the Act and Bill send out a clear message that they intend to support home building and give families every opportunity to own their own home, whilst strengthening neighbourhood planning and handing more power to local people. We will have to see if new law does help create the homes our country and potential property owners need.
As I have said so many times before, the proof of the pudding will be in the eating. It has to be remembered that it is homebuilders that actually build the homes and local – not central – government that processes the planning.
BUILD TO RENT
David Mote, Housebuilder & Developer news editor
Editor’s comment
Two London schemes provide 1000+ rental homes
T
wo development deals that will see over 1,000 new homes built in the capital for private rent under the Government’s Build to Rent scheme have been
supported with over £150m of funding from the Homes and Communities Agency. A total of 1046 new homes will be provided in schemes
in Canary Wharf and Walthamstow. They form part of a package of Government measures towards its goal of delivering 1 million new homes to help meet acute demand and support local economic growth. The project at Canary Wharf will see 636 homes for rent
constructed at The Newfoundland Building, and its Walthamstow counterpart comprises a total of 400 homes at Ferry Lane. Both developments are located close to underground stations and will include a mix of one, two and three bedroom homes. They are planned to be completed in 2019. Housing and Planning Minister Brandon Lewis said: “As
a global city filled with opportunity and links to the rest of the world, there is a real demand for good quality homes available to rent on flexible terms in the capital.” He added: “These two new deals will provide a big boost
to housing in London and help meet the needs of tenants well into the future.” The Build to Rent fund is designed to accelerate housing
provision and to help developers produce large scale, quality homes, specifically for the private rented sector. To date over 5,800 homes have been contracted through Build to Rent with investment totalling £661m. The Homes And Communities Agency’s head of trans-
actions Gareth Blacker said: “This investment in the capital helps to meet local priorities for housing and growth, sup- ports a wide range of construction professions, and gives greater choice to people who want to rent a high quality home in London.” The Build to Rent fund is a fully recoverable, commercial
investment where Government will share risk or provide bridge finance to allow schemes to be built, managed and let. The Government will loan up to 50 per cent of the development costs and the investment can cover land, con- struction or management costs.
Brandon Lewis
respond online at
www.hbdonline.co.uk
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