Havering LBC has announced construction firm Wates as its joint venture partner in a regeneration project being touted as London’s ‘biggest social housing regeneration’ scheme.
Under the contract, 12 council estates will be regenerated to provide 3,000 new homes in Havering over the next 12 years.
The £1bn project will lead to the amount of affordable housing doubling across all 12 estates, a 70% increase in rented accommodation and 400 low-cost homes for sale.
Funding for the scheme will come from the council’s Housing Revenue Account and the Greater London Authority (GLA).
Havering said the project will deliver £6.8m in social value benefits to the borough and that the scheme was only going ahead after ‘extensive consultation’ exercises with residents.
Last year, Haringey LBC’s regeneration scheme with private sector partner Lendlease came under fire for not revealing how many new homes would be affordable and for not consulting sufficiently with the public.
Havering LBC said its consultation exercise began 18 months ago and was still ongoing, involving 741 residents across all 12 sites and 82 newsletters about the project. All residents have been ‘guaranteed’ a right to return.
Council leader, Roger Ramsay, called the project a landmark scheme for London, adding: ‘This is the most exciting and ambitious council home building programme in London and I’m confident our new partner will be able to help us deliver our future vision for the borough.
‘Forming this joint venture will allow us to provide high quality new homes for existing residents and young people who want to stay in the borough.'
