London mayor Boris Johnson has confirmed plans to build 450 new homes, including 278 in the private rentad sector and 179 low cost homes at the Newington Butts site in Elephant and Castle, SE1, which is owned by the Greater London Authority.
Mace, and Canadian residential and hospitality owner operators Realstar are set to begin the build in January and are aiming to complete the project by 2018. The low-cost homes will be delivered by social housing provider Peabody.
Johnson said: “With London’s unprecedented population growth, housing supply and affordability is now our biggest challenge and we need to double the number of homes being built. This requires a radical rethink and it is time for new approaches like this, which not only help build more homes in the heart of the city, but also improve choice and quality for Londoners.”
