Mayor of London Sadiq Khan has increased the number of affordable homes in the first major section of the Old Oak regeneration in west London by seven percentage points.
Now 40% of the 605 homes in the Oaklands development, which is being built by Genesis and QPR Holdings, will be affordable, up from 33%. Of the 242 affordable homes, half will be for social and affordable rent, with the rest for shared ownership.
The GLA said Khan intervened to put in a review mechanism “to ensure that any surplus profit as the scheme is built will be used to provide more affordable units, up to 50%”.
The application was approved by the Old Oak and Park Royal Development Corporation, the organisation that has planning control over the Old Oak regeneration site.
The overall project has the potential to deliver 25,500 new homes and 65,000 jobs over the next 30 to 40 years.
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