Mayor of London Boris Johnson is investing £50m to help rejuvenate town centres and high streets damaged by the London riots.
The £50m regeneration fund will not just aid repair and rebuilding work, but finance larger projects for areas affected by the riots, such as Tottenham and Croydon.
It is hoped the funding will attract property investors looking to capitalise on new businesses and residents moving to the regenerated town centres.
The mayor said he will be urgently working on proposals to ensure he can maximise the impact of the investment.
He said: “We have always recognised the importance of improving London’s town centres, and clearly, after the destruction caused by the recent events across the city, this is a bigger challenge than ever. That is why I am allocating £50m to ensure that these areas are regenerated quickly and transformed into safe places to invest in.”
joanna.bourke@estatesgazette.com
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