The Mayor of London Sadiq Khan has announced a new partnership that will see 20,000 new homes built in London, 12,000 of which are to be affordable.
This is the first agreement under the new £3.15bn affordable housing deal that aims to start building on 90,000 new affordable homes in the capital by 2021.
The partnership is with housing association L&Q and is the first of its kind between City Hall and a housing association.
“For far too long, London has not been building enough homes. This has meant that Londoners born and raised in our great capital have struggled to rent and stood little or no chance of owning a home in their own city,” said Khan.
“This announcement today demonstrates real progress on the long road towards tackling London’s housing crisis and signals my intention to work with housing associations to deliver thousands of homes with at least 60 percent being affordable.”
He also urged other housing associations to get on board with affordable housing initiatives. More funding is set to be released this summer.
The partnership announcement came on the same day as the Mayor confirmed access for 100,000 Londoners to the employers’ housing pledge. The pledge encourages employers to offer tenancy deposit loans and mortgage guarantees to their staff, to help with the rising costs of living in London.
23 employers have now signed up to the pledge from Fifty Thousand Homes, a London First campaign to double the rate of housebuilding in the capital.
“The Fifty Thousand Homes initiative is off to a great start – with over 100,000 Londoners now covered by the employer pledge – but we need more organisations to sign up and pledge their support at fiftythousandhomes.london,” said chief executive of London First Jasmine Whitbread.