Posts tagged Greater London Authority
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.
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.
In a drive to boost the housing market and accelerate the building of new properties in the capital, the Greater London Authority (GLA) is seeking developers to join a new £5 billion procurement panel which will open more work for external contractors and building developers, Construction News reported today.
From 2013 the new housing procurement panel will replace the current Homes and Communities’ Agency, the London Delivery Partner (LDP). It is going to be managed directly by the GLA, speeding up the process for building private and social houses as well as improving the development of properties in the public sector.
The new panel will recruit up to 28 building firms that employ thousands of workers in the building construction engineering sector. This could provide more employment opportunities for trade professionals.
A bidding process is currently open to any firms that are capable of delivering housing developments, raising sufficient finance and improving community facilities. Interested developers need to apply before 4th May 2012 and successful bidders will be awarded by 1st April 2013.
The scheme is expected to increase competition between contractors and improve current housing standards as well as optimise the process of marketing and selling new homes in the capital.
What’s your reaction to the £5 billion fund which will give the Greater London Authority more control over future housing developments in the capital? Share your thoughts by leaving a comment below:
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: