Redrow is to sell 249 new-build homes at its Colindale Gardens development in north London to Barnet Council.
The exchange of contracts forms part of the council’s stated objective to deliver 1,000 new affordable homes by 2026.
The majority of the new homes, ranging from studios to three-bedroom family apartments, will be made available for rent from October. The remaining homes will follow in January 2024. They are priced from £379,995 to £554,995.
Paul Muldowney, managing director of Redrow London, said: “At Redrow, we are committed to making a positive impact on the local community, and we firmly believe that everyone deserves access to safe, comfortable and affordable housing. We look forward to seeing our homes become vibrant spaces where families and individuals from all backgrounds are able to thrive.”
Ross Houston, deputy council leader and cabinet member for homes and regeneration, said: “As a council, we care for our people, and that means providing high-quality, affordable housing. We have seized this unique opportunity to take a big step forward in our commitment to deliver 1,000 council homes by 2026.
“It represents really good value for money and will lead to considerable savings on temporary accommodation costs the moment new tenants are able to move in this year.
“Delivering the right homes to meet diverse needs now and for future generations, which people can afford and are in the right places, is a key priority and challenge for the council. We are London’s second-largest borough by population but have the sixth-lowest stock of social housing. Many of our residents are deeply affected by the acute housing shortage and sky-high rents, so providing more genuinely affordable housing will help those at the sharp end of the cost-of-living crisis.”
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