Mayor pledges 50 per cent of future housing built on Olympic Park will be affordable
- Credit: GLA
The Mayor of London has almost doubled the target for affordable housing to be built on the Olympic Park.
Three thousand more homes will be built within the next 12 years, with 50 per cent being affordable.
Before he was elected, the target was for 29pc of homes to be affordable on the park.
He said: “It’s vital that our Olympic legacy truly benefits Londoners, and that includes affordable housing as well as culture, education and business. “While I cannot change the deals that were agreed before I became mayor, I’m committed to ensuring that at least half the homes across the three remaining sites will be social rented or other genuinely affordable homes.”
At a London Assembly meeting yesterday (Thursday), Sadiq Khan pledged to build the additional homes on Stratford Waterfront, Pudding Mill, and Rick Roberts Way within the next 12 years.
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To ensure he can reach the 50pc target, he’ll invest £10 million of City Hall funding over the next 20 years.
Under his plans, Stratford Waterfront will see 600 new homes, 1,500 will go to Pudding Mill, and 900 will be built at Rick Roberts Way.
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He said: “There’s no getting away from the fact that to deliver on this commitment costs money, but this is an investment, and City Hall and the public sector will benefit from council tax and business rates thanks to the regeneration of the area.
“These will be genuinely affordable homes that Londoners desperately need. I’m prepared to put my money where my mouth is and make sure they are delivered.”
The news was welcomed by London Assembly member for City and East, Unmesh Desai.
He said: “The availability of affordable housing is one of the most pressing issues for local people.
“It is integral that the whole local community benefits from the Olympic legacy, and this announcement is another positive step in the right direction.”
Four primary schools have been built on the park already, and once completed, the East Bank, a business and cultural district, is set to create 2,500 jobs and 600 homes.
Lyn Garner, chief executive of the London Legacy Development Committee, which runs the park, said: “Housing is a critical part of the London 2012 legacy and the mayor’s proposals will help us to accelerate delivery of thousands of homes, including affordable homes.”
Newham’s mayor, Rokhsana Fiaz, said: “Mayor of Newham Rokhsana Fiaz said: “The announcement is a true legacy of the 2012 Games that Newham residents deserve.
“I will continue to work with the mayor and LLDC to ensure all potential legacy benefits of the Games are maximised for our residents.”