Council plan to build thousands of new homes every year
Published by Max Salsbury for 24dash.com in Housing and also in Development, Local Government
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Croydon Council has announced bold plans to build up to 2,000 new homes each year.
To meet the needs of an increasing population, the local authority has proposed a five-year plan to deliver 9,500 homes.
With more than 9,000 households already on its housing register, and managing a sharp increase in homelessness, the council has seen the supply of private rented accommodation reduce significantly.
Croydon’s population is predicted to increase by 38,000 over the next 20 years, bringing the number of people living in the borough to 400,000.
To help meet the demand, new homes will be built on more than 120 sites across the borough, more than half of which will be in central Croydon and nearly a third affordable.
They will be a mix of tenures, including affordable and private rent to shared ownership and private sale. The new homes will also be of varying sizes and suitable for single people, couples and families.
Alongside the five-year plan, the council is setting up a housing investment fund which will it hopes will provide the necessary finance to ensure stalled developments go ahead.
There are also proposals for £3 billion worth of retail and leisure investment to transform the town centre, creating an estimated 16,500 jobs.
In addition, improvements to East and West Croydon stations and a £320 million schools development programme are planned to ensure the right infrastructure is in place to support the extra housing.
Councillor Dudley Mead, cabinet member for housing, said: “This is an unprecedented programme of house building during exciting times for Croydon.
“These new homes will be built while the town centre is transformed by £3bn worth of retail and leisure investment that will create thousands of new jobs for local people.
“Croydon is a very competitive location with average house prices much lower than elsewhere and more than half that of inner London.
“It is one of the few remaining areas in London where developers can build houses that first time buyers can reasonably afford.”