Lewisham wants living rent partner
Lewisham Council is looking for a development partner to bring forward a 250-home rental scheme that will include a “living rent” tenure.
It wants a private developer to build out and manage its 2.5-acre site on Besson Street in a 50/50 joint venture.
The council is proposing that 35% of the homes will be affordable and set at a “living rent”. This means rents will be capped at 35% of local median household incomes.
Lewisham Council is looking for a development partner to bring forward a 250-home rental scheme that will include a “living rent” tenure.
It wants a private developer to build out and manage its 2.5-acre site on Besson Street in a 50/50 joint venture.
The council is proposing that 35% of the homes will be affordable and set at a “living rent”. This means rents will be capped at 35% of local median household incomes.
The median household income in Lewisham is around £35,900 per year, which works out at a monthly rent of around £997.
Damian Egan, cabinet member for housing at Lewisham Council, said: “The living rent model is vital for those on lower incomes who do not qualify for council housing and I am proud that Lewisham will be one of the first local authorities in the country to prioritise this under-served group.”
Sadiq Khan announced a “London living rent” in his campaign to become London mayor earlier this year, and Lewisham said it was talking to the GLA about how its own model would fit in with this.
Under Khan’s plans, rents for new affordable housing would be set at a third of a borough’s rents.
Under the previous administration, affordable elements of schemes in the capital had included a proportion of discounted rental properties that was normally capped at 80% rent in the building.
Arcadis is advising the council. The masterplan for the site has been designed by Asseal Architects.
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