Camden displays new homes for London that don’t come at a price
As the bricks at the top of a new housing block in Kings Cross are laid, Camden Council argues it proves you can build new affordable homes in London without having to sell off social housing, as proposed in last week’s Government budget announcement.
The Maiden Lane development, which will deliver 273 new mixed tenure homes and generate cash to regenerate the existing Maiden Lane council estate, celebrated an important milestone today with a topping out ceremony on the 18-storey tower block.
Leader of Camden Council Sarah Hayward said it was great to see a key part of the project coming to fruition and provides a real live example that there is an alternative to the Government’s extension of the Right to Buy policy to build much needed new homes to rent and buy in London.
“I’m incredibly proud that we are able to show how you can build more housing in London without having to sell off Council flats. Using a mixed tenure development here we’re building flats for sale to fund new council and shared ownership homes for Camden residents; and investment back into our existing estates, there is a real alternative to the extension of Right to Buy policy for London.”
The Maiden Lane development, near King’s Cross, includes 147 private sale homes, 74 council rented homes and 52 shared ownership homes. The income generated from private sales will provide the funding for the new council homes. And in a further move to benefit the local area the Council chose a non-traditional marketing approach giving local people in Camden and Islington boroughs the first chance to buy one of the flats for sale before they went on the open market.
New council homes will be prioritised for existing tenants on the surrounding estate providing much needed homes for those who have a housing need, such as overcrowded homes.
“The Maiden Lane development is one part of Camden’s Community Investment Programme. Through our 15 year strategy to invest in the community we are showing that despite central government budget cuts by being innovative with our assets we’re able to build vital new affordable homes, create school places, jobs and apprenticeships for young people, and community infrastructure, plus generate £300m to reinvest into improving other services and facilities.
“The Community Investment Programme has enabled us to develop new Council homes for the first time in 20 years, and comes at a time when many local authorities are struggling just to maintain their existing Council homes,” Councillor Hayward added.
Maiden Lane’s newest residents are expected to move in early next year.
The new and improved estate will include cafes, retail space and improved community facilities for all residents to enjoy.