£93m lifeline for stalled London housing schemes

Five stalled housing schemes in London will be saved by £93m in funding from the Homes and Communities Agency to get construction work started again.

The cash is part of a package of measures announced by the agency and Mayor of London Boris Johnson to increase affordable housing provision in the capital.

Agency chief executive Sir Bob Kerslake said: “This funding package for kick starting developments will keep regeneration activity moving and provide the housing market with a much-needed confidence boost.”

The five schemes which will benefit from the cash are:

Aylesbury Estate (LB Southwark, London & Quadrant)

Heart of East Greenwich (HOEG) London Wide Initiative (LWI) project (LB Greenwich, First Base, Southern Housing)

St Andrew’s Hospital (LB Tower Hamlets, Barratt Homes, Circle Anglia)

Woodberry Down (LB Hackney (Berkeley Homes and Circle Anglia)

Holloway Road LWI project (LB Islington, First Base, Southern Housing)