Boris Johnson
Mayor announces £40m to create jobs and economic growth
The schemes backed by the London Enterprise Panel (LEP) are in areas where ambitious regeneration plans are in place and where transport infrastructure will help unlock significant economic growth.
These schemes are set to deliver improved rail links between Tottenham Hale and the Upper Lee Valley; major road improvements in Bexley and support Ealing to harness the economic opportunities coming from Crossrail.
Collectively the projects could safeguard existing or create an estimated 45,000 jobs, support the construction of tens of thousands of homes and attract significant private investment into deprived areas.
The LEP’s adoption of these bids is a significant milestone for these projects and the proposals will now progress to a final stage, including more detailed work developing business cases, technical modelling and delivery mechanisms.
The Mayor of London, Boris Johnson, said: “Transport links are a vital precursor to economic development. This money is earmarked for investment into transport schemes which have significant potential to stimulate growth and job creation.
“I welcome the London Enterprise Panel’s assessment of which projects are best placed to do this and City Hall will now be working with the bid teams to progress these ambitious proposals.”
The bids approved by the London Enterprise Panel will provide extra services at Northumberland Park and Tottenham Hale, improving rail links between Stratford, the Upper Lee Valley and beyond including Stansted Airport.
Collectively with Angel Road Station improvements, this will support the commencement of the Meridian Water development and regeneration at Northumberland Park where there are plans for an estimated 3,500 homes and 500 jobs.
It will also support the development of an estimated 15,700 new homes, 21,900 new jobs in the Lee Valley and up to 15,000 jobs in adjoining areas.
£2.5 million allocated to upgrade Angel Road station and support regeneration in Enfield (bid from Enfield Borough Council). Angel Road station is vital to the regeneration of Enfield and specifically to support the Meridian Water development and regeneration in the Lower Lea Valley more widely.
Station improvements will increase passenger capacity through an enhanced commuter rail service and boost employment across wide range of trades in the building construction industry.
White City residential scheme gets the go-ahead
Hammersmith and Fulham Council have given the go-ahead to Helical Bar and Aviva Investors to build 1,150 new homes in White City, west London.
The 1.5 million sq ft residential-led development is based on the former Diary Crest site and is expected to create thousands of jobs in the construction industry and boost the trades.
Current plans include demolition of all existing buildings on the site and providing up to 1,150 new homes, business space, local retail and associated services, leisure and a range of community facilities comprising a multi-purpose community building incorporating basement and service level car parking.
The scheme will also see the building of an Urban Square, a public Central Garden Square with communal and private space available on site.
Development Director at Helical Bar, Matthew Bonning-Snook, said: “We are extremely excited about our proposals for Brickfields.
“The Eric Parry design code for the masterplan uses a predominantly natural palette of brick and stone to create sustainable and attractive buildings which, alongside the public realm and amenities, will form a genuine new London community.”
The brick-built homes will be a mixture of affordable, shared and private ownership. The developer and partner Aviva Investors also plan to build 150,000 sq ft of offices, retail and community facilities.
The site is part of the Mayor of London’s and Hammersmith and Fulham’s White City Opportunity Area, set to deliver thousands of new homes and jobs for the capital.
What is your reaction to the new residential development at White City that will see the building of new homes and boost employment in the trades? Share your thoughts by commenting here or raising your voice on our Facebook and Twitter pages.
Boris Johnson reveals £100m affordable housing boost
The Mayor of London, Boris Johnson, has secured a £100 million government investment for housing providers to help boost affordable housing in the capital.
The new investment secured by Mayor Johnson forms the latest part of his pledge to safeguard London’s affordable housing market and create new jobs in the construction industry.
By improving housing options of Londoners, Boris Johnson is providing a real boost for building professionals and people working in the trades.
Today’s investment represents an additional funding to the first £100 million Housing Covenant announced by the Mayor in September. The scheme will target housing providers who commit to starting construction on site by March 2015 at the latest.
Mayor Boris Johnson said: “This latest tranche of cash is another fantastic opportunity for housing providers in the capital to deliver the homes that this city desperately needs.
“Whether it’s for affordable homes to own, or to make better use of properties that lie empty or under-used, the fund will help working Londoners across the capital and create valuable jobs in construction.”
The Mayor, who has overseen the release of 100 hectares of Greater London Authority land since he assumed his new housing powers, announced last month that funding allocations for the first part of his Housing Covenant would deliver more than 3,000 homes and support around 6,000 construction jobs.
Developers, local authorities, charities and private organisations are all invited to bid for funding, which will be used to deliver affordable homes to own.
The Mayor also wants to hear from organisations committed to bringing empty properties or under-used commercial units back into use as affordable homes or to help London boroughs tackle homelessness. Organisations interested in submitting bids in London will need to do so by April 30. The funding prospectus for this round of funding can be accessed from here.
Imperial College unveils plans for new London campus
Imperial College London has revealed further details of its plan to build a £150 million campus in White City that will create around 3,200 new jobs and boost the trades.
The centrepiece of the 7-acre new Imperial West campus is the multi-million Research and Translation Hub for academics and business partners that will see the building of new homes, publicly accessible green space, pedestrian subways and leisure and retail facilities.
Imperial West is set to become a major new research quarter for London, reinforcing the capital’s position as a catalyst for scientific development and economic growth
Imperial bought the land for the new campus from the BBC in 2009. The first new building, which provides accommodation for over 600 postgraduates and early career researchers, has been occupied since September 2012.
Terms of the planning permission for the rest of the site were agreed with the London Borough of Hammersmith and Fulham in December 2012
Design work on the Hub, which is funded by investor Voreda and from the College’s own resources, is underway. The College plans to complete the construction in 2015.
Mayor of London, Boris Johnson, said: “London is home to some of the world’s leading universities and sharpest business minds.
“This fantastic venture will bring the best of both these worlds together turning brilliant ideas into jobs and economic growth and further bolster our reputation as the must-come destination for research and development.”
Minister for Universities and Science, David Willetts, said: “Imperial is one of our country’s great universities and the new Imperial West campus is a really exciting development. It will focus on translational work – on applying the excellent research that Imperial does to bring benefit to the wider world.
“The government strongly supports the vision and plans for the new campus and we look forward to seeing it grow and prosper in the future.”
What is your reaction to the new campus at Imperial College London that is forecast to create thousands of new jobs and boost the trades? Share your thoughts by commenting here or raising your voice on our Facebook and Twitter pages.
Quintain gets the go-ahead for building new homes at Greenwich Peninsula
Quintain has been given the go-ahead to build more than 500 new homes as part of a £5 billion master plan at London’s Greenwich Peninsula.
Construction work on site is set to start in summer 2013, paving the way for new trade jobs and boosting the building construction industry.
Peninsula Riverside forms part of a multi-billion master plan which will deliver 10,000 new homes to transform Greenwich Peninsula into London’s most exciting riverside community.
Max James, Chief Executive of Quintain said: “We are delighted that the Royal Borough of Greenwich has granted detailed planning consent for 506 homes at Peninsula Riverside.
This decision paves the way for construction work to start on site this summer delivering new jobs and homes; a positive step in transforming the vision for Greenwich Peninsula into reality.”
The 190 acre scheme has been given an outline planning consent by the Royal Borough of Greenwich. It will see the building of residentially led mixed-use development scheme with new homes spread across four quarters and a commercial district, including a 40-acre park.
Anthony Gill, Development Director for Greenwich Peninsula said: “The Peninsula Riverside development will continue the unstoppable momentum East London has enjoyed since the Olympic Games.
“The combination of affordable riverside living, just one tube stop from Canary Wharf and within 15 minutes’ reach of the West End, ensures Peninsula Riverside will become one of the most exciting new housing schemes in London.”
Accelerating delivery on major sites like Greenwich Peninsula is a key part of the Mayor of London’s work to boost the building of homes for Londoners and drive investment in the capital’s economy.
Richard Blakeway, Deputy Mayor for Housing, Land and Property, said: “Greenwich Peninsula, with its potential to deliver thousands of homes, including a large proportion of affordable housing, and jobs, is exactly the kind of development we want to see moving forward in London helping to boost the economy and accelerate the number of homes being built on GLA public land.”
What is your reaction to the building of hundreds of new homes at London’s Greenwich Peninsula? Share your thoughts by commenting here or raising your voice on our Facebook and Twitter pages.
Mace to kick-start £250m Greenwich regeneration scheme
Developer Hadley Mace has finalised a deal with the Mayor of London Boris Johnson and the Royal Borough of Greenwich to deliver a £250 million mixed-use scheme in east Greenwich that will create new jobs.
It is anticipated that the first phase of homes and community facilities will be completed by late 2014, with the entire development completed approximately three years later, paving the way for employment in the trades.
David Grover, director of Hadley Mace, said: “This leading scheme will demonstrate the benefits of public private consortium and its impact on a community that has been anticipating investment and re-development for more than 10 years.”
“The partnership between Hadley and Mace came about as a response to the Home and Communities Agency’s quest to find a new way of regenerating neighbourhoods with fresh, innovative thinking and creative investment.
“Acting as delivery partner for the client, and taking control of funding and risk aspects of the scheme, we are offering a full turn-key solution that can be replicated throughout the UK on all public land and any stalled public regeneration scheme.”
The Mayor of London, Boris Johnson, said: “This landmark regeneration scheme is a key part of my commitment to provide much-needed housing and jobs for Londoners by bringing forward public land for development.
“The East Greenwich project will see nearly 30% of homes built with families in mind and the construction of some fantastic new amenities that will help to create a thriving and vibrant community.
“I am delighted the scheme is now storming ahead and is another step closer to delivering what I have no doubt will be an exciting new place for Londoners to live, work and visit.”
Boris gives the go-ahead for London jobs boost
Mayor Boris Johnson has approved plans to redevelop a historic building in East London which will create 2,300 new jobs and boost the trades.
The plans will see the demolition of the London Fruit and Wool Exchange which will make the way for a six-storey building for office and retail use to be build.
The Mayor believes the site and its location are vital to the prosperity of this fast developing part of the capital and to London’s wider economy.
Mayor Johnson used powers granted to him in 2008 to support the application, which had previously been refused planning permission by Tower Hamlets Council.
He said: “The historic London Fruit and Wool Exchange, in the heart of London’s East End, is a former commercial epicentre to which producers and buyers flocked from miles around to do business.
“These plans will not only restore the façade to its former glory, but regenerate the Spitalfields area with thousands of new jobs, and brand new commercial opportunities.
“It will also make a vital contribution to the wider London economy and have a significant impact not just on Tower Hamlets but on surrounding boroughs as well.
“I can find no reason to refuse permission and am of the firm view that this ambitious and important redevelopment should go ahead.”
London Mayor Unveils £100m Housing Boost
London Mayor Boris Johnson has launched a £100 million fund to help a range of housing projects across the capital and boost the trades.
House builders will have the chance to put their bids forward to deliver major building work which could boost the London economy by £2 billion and create new jobs in the construction industry.
According to the Mayor, injecting such significant investment in the housing market could contribute £1 billion worth of construction projects across the city.
The Mayor has said that all ‘reusable investment’ from this funding boost will be reinvested for the building of more affordable homes over the next decade.
Motor Johnson said “To improve the housing choices of those who work to make this city the fantastic place that it is, I am opening up the market, cutting red-tape and injecting £100million worth of investment to stimulate supply.
“The programme we are announcing will not just unlock the door to home ownership for thousands more Londoners, it will give a welcome shot in the arm for jobs in the capital’s construction industry and spur wider economic growth too.”
The first homes are expected to be available for sale in early 2013 with completions ranging up until March 2016.
Boris gives the go ahead to £320m regeneration scheme
The Mayor of London Boris Johnson and Communities Secretary Erick Pickles have given final approval to a £320 million regeneration scheme in Harrow.
The project will turn the 40-acre strip of land, previously used by the camera company Kodak, and build 985 new homes, a primary school, medical centre as well as shops and offices.
Portfolio holder for regeneration at Hallow Council, Keith Ferry, said he was ‘delighted’ that the project, which was granted panning permission in June, had finally been approved by the Government, paving the way for building work to start in early 2014.
Mr Ferry said: “As a council we are determined to deliver on our promise to regenerate and build the most sustainable community in Harrow and to establish a thriving residential and commercial centre.”
Developer Land Securities estimates the project, which also includes a community centre, student accommodation, and a retirement home, will create up to 1,500 jobs in the construction industry.
Harrow Council said that this development is the biggest in the area and it forms part of the wider Heart of Harrow project, which seeks to create 3,000 new jobs and build 2,500 new homes.
What is your reaction to the multi-million development scheme which has been approved by the government? Share your thoughts by commenting here or raising your voice on our Facebook and Twitter pages.
Olympic Legacy for the Trades as well Sport
“Post-Olympic Work to Create New Jobs in the Trades”
The London Legacy Development Corporation (LLDC) has appointed Britain’s second biggest homebuilder to build the first of the five new neighbourhoods on the Olympic Park.
The appointment of Taylor Wimpey and asocial housing landlord L&Q will transform the 9.3 hectare Chobham Manor site, delivering 870 new homes and supporting thousands of new jobs in the trades.
Sitting between the Athletes’ Village and the Lee Valley VeloPark, the development of Chobham Manor will address the residential needs for larger homes, with more than 75% of the new homes offering family housing.
Eleven thousand new homes, schools, nurseries and shops are set to be built in the Olympic Park over the next 20 years after the London Games leave town.
Daniel Moylan, Chairman of the London Legacy Development Corporation, said:“Chobham Manor will set the tone for the high quality neighbourhoods we want to create across the Park with new schools, health centres and community spaces to support them.”
The Mayor of London, Boris Johnson, welcomed the announcement by emphasising the future benefits for local communities and the increasing accommodation needs in the city.
Mr Johnson said: “With the incredible energy of London 2012 captivating audiences across the world, the long-term legacy of the Olympic Park is quietly going from strength to strength.
“The development of Chobham Manor is major milestone and will help ensure a thriving community on the Park becomes a reality sooner rather than later.”
What are your reactions of the Olympic Games and the lasting legacy they will bring to London’s infrastructure? Do you welcome the Post-Olympic work which is set to deliver thousands of new homes for Londoners? Share the wider implications of the Games for you and your business by commenting here or raising your voice on our Facebook and Twitter page.
Train4TradeSkills Radio: Colin Glover talks about plumbing training with T4TS Part 2
Colin Glover is training to become a plumber with Train4TradeSkills. Train4TradeSkills Radio interviewed Colin to find out how his plumbing course is going.
You can listen to the full interview with Colin via AudioBoo at: www.audioboo.fm/train4tradeskills
[scribd id=101926668 key=key-1w59j6ql5tkjuf8vbe2b mode=list]
The Construction Sector could bring 215,000 jobs across the UK
“The CBI is urging the government to get its act together and accelerate infrastructure investment”
The CBI Director General, John Cridland, has urged the government in a Financial Times interview to speed up the implementation of its plan for economic growth by accelerating housing and infrastructure projects across the UK.
The head of Britain’s top business lobbying organisation criticised the government over some delays in road improvement plans and the failure to agree renewable energy subsidies, which according to the CBI are vitally important for boosting economic growth.
“I think it is really disappointing how long it is taking to get momentum and urgency into the growth plan.” The Director General told the Financial Times.
Meanwhile, CBI Director for Business and Environment, Rhian Kelly launched, Creating Britain’s future, a new campaign for the UK’s Contractors Group, highlighting the crucial role that the construction sector plays for the creation of new jobs.
Ms Kelly said: “Our analysis shows that the construction sector has the potential to create 215,000 jobs across the UK and throughout the supply chain.
“It is more important than ever that we recognise the role of construction, both as a catalyst for local job creation across the UK in the short-term, and as the lead mover in the £250bn infrastructure renewal needed to underpin economic growth in the long-term.
“To get spades in the ground on infrastructure delivery, there must be an urgent focus across the UK on bringing forward repair, maintenance and improvement projects, for example on roads, to deliver immediate and tangible results in terms of local jobs and growth.”
Do you share the view of the CBI about the huge potential for growth and the creation of new jobs in the construction industry? How viable do you think is this statement for your business?
More than 46,000 Jobs London 2012 Construction Project
Building, Engineering and Construction work of the Olympic Park for London 2012 has raised the public profile of the industry, helping millions of people in Britain to appreciate the importance of civil engineering to society, a survey by a leading engineering body revealed today.
A new survey published by the Institution of Civil Engineers (ICE) showed that over half of the public (53%) no longer just think about bridges when they think of civil engineering in the light of the London 2012 Olympic Games.
Nearly half of the 2, 000 people who took part in the ComRes survey said they would consider civil engineering to be a ‘respected’ profession, alongside jobs such as lawyers and teachers.
More than 46,000 jobs have been created as a result of the London 2012 construction project. Post-Olympic work, taking place just after the closing ceremony next month, is expected to create thousands of extra new jobs.
The successful delivery of the £7-billion worth Olympic infrastructure has raised the public profile of civil engineers and people working in the trades.
45% of the people who participated in the survey say they would consider civil engineering to be a ‘respected’ profession, alongside jobs such as lawyers and teachers. Over a third (38%) of the participants said they would encourage their children to pursue a career in civil engineering.
ICE President Richard Coackley said: “Our day-to-day lives depend on the infrastructure around us that is designed, built and maintained by civil engineers – from roads, railways and bridges to energy, water and waste networks.
“It forms the backbone of society and the economy. But unfortunately it is often only when things go wrong that the work of civil engineers is thrust into the media spotlight.
“The London 2012 Games have changed this – showcasing and celebrating the work of these often ‘unsung heroes’ while at the same time helping the public understand more about what civil engineers do and what a diverse and exciting career it is.
“If anything could excite and inspire young people to pursue civil engineering as a career it’s the Olympic and Paralympic Games – a true feat of engineering in every sense.”
What’s your reaction to the survey by the ICE indicating a bright future for civil engineers and people in the building construction industry? Share your thoughts by commenting here or raising your voice on our Facebook page.
Regeneration of Olympic Park to Boost the Building Construction Industry
The London Legacy Development Corporation (LLDC) has unveiled plans for the regeneration of the future Queen Elizabeth Olympic Park which will generate millions of pounds in the British economy and boost the building construction industry.
The new park will reopen exactly one year after London 2012 opening ceremony, becoming an exciting new visitor destination and community park unlike any other in the UK, the LLDC said.
The creation of the Queen Elizabeth Olympic Park will be one of the biggest construction projects in Europe. The 18 month transformation programme will lay the foundation for further building and construction work in East London over the next 20 years.
The transformation programme will clear Games-time structures including temporary venues such as bridges, walkways and roads. It will also connect the Park to the surrounding area with new roads, and foot paths as well as complete permanent venues to be used by visitors and the public.
The Legacy Corporation said that it is working together with experienced team of construction and architecture specialists who will deliver the best quality Park whilst making sure plans are completed as quickly and efficiently as possible.
Chief Executive of the LLDC, Andrew Altman, commented that the Queen Elizabeth Olympic Park will become one of the most thriving parts of London and will help for the creation of thousands of new homes and jobs in East London.
Mr Altman said: “The transformation will take the Park from an Olympic site, to a new piece of London that’s owned and shaped by the community in and around it. Above all, the Park will create a place of practical benefit for the surrounding community – a place to take your children swimming at weekends, go to school, walk your dog or go to a festival in the summer.”
The Mayor of London, Boris Johnson, also emphasised on the importance of the Olympic site for Britain’s economic growth and future prosperity.
He said: “The fantastic new sporting venues are only one part of the unfolding legacy story. The Park will help drive the growth London needs to steer it out of recession and on to long term prosperity.”
What is your reaction to the post-Olympic work revealed by the London Legacy Development Corporation? Share with us how you might benefit from the project by leaving a comment below:
UK-GBC Urges the Government to Stimulate Green Growth
The UK’s Green Business Building Council (UK-GBC) has urged the government to show renewed leadership on green issues which will create more jobs and encourage economic growth.
Appropriate government intervention in energy schemes, more incentives for the development of green infrastructure and strong support for businesses across Britain should be the key priorities for the government to get Britain’s economy back on track, according to the Chief Executive of UK-GBC, Paul King.
The CEO thinks that despite the current economic difficulties in the construction industry, the government could do more to help economic recovery by making sustainable investment into the green economy.
He said: “The construction sector is suffering at the moment but it could play a key role in getting the UK’s economy back on track – with energy efficiency and green infrastructure central to economic recovery. Unfortunately, deregulation is not a miracle cure – in fact we probably need greater intervention from Government – for example bringing in incentives like reduced Stamp Duty to encourage households to take up the Green Deal, and helping the commercial sector cut energy use.”
Responding to the Queen’s Speech to Parliament, Mr King said: “We really need to see the Energy Bill announced today provide a vehicle for the long-awaited roll-out of Display Energy Certificates, which would help UK businesses save money.”
Do you think the government could do more to help the growth of Britain’s economy? Share your thoughts by leaving a comment below:
The Queen Announces Support for the Renewable Industry
As part of her speech to Parliament yesterday, Her Majesty the Queen introduced Electricity Market Reform to encourage more investment in low carbon generation and clean energy.
The Queen said: “My Government will propose reform of the electricity market to deliver secure, clean and affordable electricity and ensure prices are fair”.
The Electricity Market Reform will put more restrictions on the emissions of new coal plants and create a new independent regulator, the Office for Nuclear Regulation, which will be funded by the industry, the BBC reported.
The Renewable Energy Association welcomed proposals for new energy bill. It said said that the industry will need to know its details as soon as possible in order to adjust and protect developers in the renewable sector.
Chief Executive of the REA, Gaynor Hartnell, said: “The new arrangements aim to deliver a stable price for renewable electricity generators, irrespective of what happens to electricity prices. If all works as intended, it should make project development less risky and means that the public pays no more than it needs to for green power.”
What is your reaction to the Queen’s speech? How do you think the proposed reform will help you or your business? Share your thoughts by leaving a comment below:
CBI Says Infrastructure Industry Should be a Priority for The Government
The UK’s largest employers group, the Confederation of British Industry (CBI), has appealed to the government to stimulate economic growth by investing more into infrastructure projects.
Although the building construction sector remains one of the most stable industries in the UK, the CBI thinks greater investment is needed for infrastructure projects to encourage continual growth and business confidence.
The CBI has proposed a number of measures for the government as an opportunity to provide real boost for private sector investments in infrastructure schemes and give more support to small and medium businesses.
General Director at CBI, John Cridland, explained that the government should use Chancellor’s budget statement next month to deliver significant financial stimulus to make mortgages more affordable to the housing market.
Mr Cridland thinks future growth through reforms of the UK’s tax system is essential for businesses to invest in Britain. He is calling on the government to make some changes into the current system which will create new opportunities for growth.
Mr Cridland highlighted the significance of infrastructure investment as one of the most important priorities which the government needs to support in order to encourage industry’s growth and create permanent jobs.
He said: “Delivering private sector investment in infrastructure, supporting mid-sized businesses, hammering out the details on credit easing, extending the Youth Contract to 16 and 17-year-olds, and introducing the New Build Indemnity Scheme for mortgages at the earliest opportunity will all provide a real boost for UK growth and jobs.”
Do you agree with the CBI that the infrastructure industry is a key factor for economic growth and creating new jobs? Share your thoughts by leaving a comment below:
Westfield Regeneration Plan Approved
A £1 Billion Extension Plan for Westfield Shopping Centre in West London is set to go ahead, paving the way for building construction work – Construction Enquirer revealed today.
The scheme will build more than 1,500 homes across five buildings, ranging from 8 to 20 storeys. Some of these will be as part of the affordable housing scheme announced by the government in November last year.
Plans for redevelopment of the 22 acre site will include new green offices, restaurants and a huge extension to the current shopping centre will include community facilities and leisure space.
The Mayor of London, Boris Johnson, is expected to rubber-stamp the scheme before building construction work can begin in 2014. Further details of the scheme will be announced later this year.
Hammersmith & Fulham Council’s cabinet member for community engagement Harry Phibbs, explained that this is a vital investment for the area which will create new jobs and encourage future economic growth.
Mr Phibbs said: “This development is bringing positive change, improvements and jobs to an area that needs revitalising.”
Duncan Bower, Director of Development and Asset Management at Westfield, said: “We are naturally very pleased with the decision by Hammersmith and Fulham Council to approve the scheme. We now await the decision of both the Mayor and the Secretary of State.”
What do you think about the extension of Westfield Shopping Centre and the building of new homes in West London? Do you think more needs to be done to encourage further economic growth? Share your thoughts by leaving a comment below:
Mayor of London Gets £3 Billion Fund for Affordable Housing
The government has transferred a fund of £3 billion to the Mayor of London, Boris Johnson, to build more affordable houses as well as to oversee the long term development of the Olympic Park and the surrounding areas.
The new investment will give greater power and more responsibilities to the Mayor of London’s office. Boris Johnson welcomed the decision of the government which will create thousands of new jobs and boost the building construction sector.
Mr Johnson said: “We are now in a great position to drive forward vital investment that will deliver more affordable homes across the city, secure a lasting legacy in the Olympic Park and create thousands of new jobs.”
Some 55,000 new affordable houses are expected to be built by March 2015 as well as bringing 45,000 existing homes up to standard across London.
The announcement comes as the Communities and Local Government Secretary, Eric Pickles, is preparing to hand over functions from the Homes and Communities Agency’s (HCA) to the capital and the Greater London Authority (GLA).
Mr Pickles said: “The funding will enable the Authority to support the housing programmes it will inherit from the Homes and Communities Agency, the closure of the London Development Agency, and transformation of Olympic Park and legacy, as well as its existing functions.”
Mayor of London, Boris Johnson added that this agreement will enable for greater responsibility in housing schemes across London.
Mr Johnson said: “I will do all I can to grasp the fantastic opportunities this settlement provides and ensure that London becomes an even better place to live, work and invest in.”
What is your reaction on the Government’s investment for more affordable houses in London? Does the £3billion investment mean more employment opportunities for you/your business? Let us know by leaving a comment on the Train4TradeSkills’ Facebook and Twitter pages: