"Tower Hamlets has pledged that half of any new homes on its land must be affordable housing and will prioritise family-sized homes over one-bedroom units to help combat gentrification, the Standard can reveal. The borough has said that 40 per cent of any new development that is not on council land will also have to be made up of affordable housing. The council is aiming to build at least 52,095 homes over the next 15 years, delivering nearly 5,000 homes a year."
"In Tower Hamlets, we remain steadfast in our commitment to expanding, not scaling back, our ambitious affordable housing programme, and we are setting a new standard for London. "Our plan commits to delivering over 52,000 homes, with an affordable housing target of 4050%. We are putting local residentsnot developersat the heart of development in our borough. By prioritising family-sized homes and increasing genuinely social and affordable housing from 70% to 85%, we are reversing the dominance of one-bedroom units and combating gentrification."
Tower Hamlets commits to delivering at least 52,095 homes over 15 years, averaging nearly 5,000 homes a year. The council requires 50% affordable housing on its land and 40% on non-council developments. The borough will prioritise family-sized homes over one-bedroom units and increase genuinely social and affordable housing from 70% to 85% to combat gentrification. Tower Hamlets will expand Tall Building Zones and build upward due to limited space and high density. The London housing market faces dormancy from spiralling construction costs, high interest rates, regulatory red tape, and pandemic impacts, while central policy may reduce affordable targets.
Read at www.standard.co.uk
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