L&Q and GLA to deliver 20,000 homes
L&Q has partnered with the Greater London Authority for an £8bn investment to deliver 20,000 new homes, including at least 12,000 affordable homes, in the capital.
This is the first deal Sadiq Khan, mayor of London, has agreed in his plan to work with housing associations that want to deliver at least 60% affordable housing on a broad scale.
City Hall will contribute £400m towards the investment in an effort to boost affordable housing delivery and help with land purchases and infrastructure costs.
L&Q has partnered with the Greater London Authority for an £8bn investment to deliver 20,000 new homes, including at least 12,000 affordable homes, in the capital.
This is the first deal Sadiq Khan, mayor of London, has agreed in his plan to work with housing associations that want to deliver at least 60% affordable housing on a broad scale.
City Hall will contribute £400m towards the investment in an effort to boost affordable housing delivery and help with land purchases and infrastructure costs.
The mayor won a £3.2bn affordable housing deal from the government last November, with a target of starting construction on 90,000 new affordable homes by 2021.
Khan has previously said that fixing the housing crisis will be “a marathon and not a sprint” and that he is “determined to lead from the front” to build affordable housing to both rent and buy.
David Montague, group chief executive of L&Q, said: “London has been L&Q’s heartland for more than 50 years, and we are committed to prioritising development in the capital.
“L&Q and the GLA have been forging closer ties over many years to tackle London’s housing crisis, and this strategic partnership takes our ambition to an exciting new level. By working together, we will guarantee more investment in apprenticeships, jobs, innovative methods of construction, economic growth, communities and homes for years to come.”
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