Peabody and Family Mosaic have completed their £6bn merger and also announced a strategic partnership with the mayor of London to deliver 6,000 affordable homes by 2021.
The merged housing association will have an annual turnover of £700m, 111,000 residents and a development pipeline of more than 10,000 new homes. It is also starting work on its 20,000-home regeneration project in Thamesmead, which includes two sponsored housing zones.
It said the 6,000-affordable home strategic partnership with the mayor will include a range of tenures, including social rent and does not include homes built for private sale and market rent.
It is the second housing association to announce such a partnership with the GLA, after L&Q in April.
Essentially, under the arrangement the GLA helps to increase development under a range of measures in exchange for a higher percentage of affordable homes.
Peabody chair Lord Kerslake said: “This is an historic moment for Peabody and for housing in London. With the GLA, our local authority partners and others, we have an opportunity to significantly scale up the supply of new homes across all tenures in London and beyond.
“I am also determined that we continue to improve our services and communicate well with government on issues that affect our residents. Their wellbeing is central to our mission.”
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