Southwark Council in the UK has approved a development in Blackfriars, London, which will contribute £65m to the authority’s affordable housing budget.
The 2.1ha site is on the land occupied by Sampson House, 64 Hopton Street and Ludgate House, 245 Blackfriars Road, and the arches under the railway viaduct between the two buildings.
It is surrounded by the Thames Path and Blackfriars Station to the north, Hopton Street to the east, Southwark Street to the south and Blackfriars Road to the west.
The council’s cabinet initially pledged to construct 1,000 new council homes by 2020.
Plans now include construction of an additional 10,000 council homes over the next 30 years.
Southwark Council cabinet member for regeneration and planning Fiona Colley said the project will feed into the council’s direct delivery programme.
"We will get a multi-million pound sum to build affordable homes, some of which (in phase two of the programme), will be in the same postcode, in the north of the borough," Colley said.
The council said following the discussions with the DVS, the applicant has offered to make a commuted payment of £65m in instead of providing affordable housing, either on or off site.
Southwark Council leader Peter John said, "This is an amazingly exciting project which will bring new homes, new jobs and new opportunities for Southwark and its residents – everyone in our borough can benefit from developments like this."
The commuted sum secured as part of the application will be paid into the council’s Affordable Housing Fund.
Money from the fund will be used to deliver the directly funded housing delivery programme.
A report was taken to cabinet on 23 October 2012 agreeing a range of priorities and outline delivery mechanisms.
Nine schemes have been identified within the report as part of the first phase of the project, totalling 286 new council homes.
Image: Southwark Council cabinet member for regeneration and planning Fiona Colley. Photo: Courtesy of Southwark Council.