The government has made available an extra £32 million of new funding as part of its estate regeneration national strategy. Councils, housing associations and developers can now bid for a share of £172 million in total to transform deprived housing estates and deliver high quality housing.
As regeneration experts, Network Homes welcomes this move, along with Mayor Sadiq Khan’s proposals for improved practices around estate regeneration.
Network Homes is currently leading on four large scale regeneration projects to provide over 2,000 new and refurbished homes for local people. Two of these projects have reached major milestones recently.
In South London, work has started on the final stage of our project to regenerate the 1,400 home Stockwell Park Estate. We are redeveloping a 1960s tower block (Thrayle House) into 178 new homes including 41 for social rent, 40 for older people and 96 for private sale.
In Hertford we've started work to demolish poor quality ageing buildings at The Ridgeway and replace them with 120 new affordable mixed tenure homes.
The £30 million regeneration project, part funded by East Herts Council and the Homes and Communities Agency (HCA), is due to be completed in 2018 and will include 70 homes for affordable rent and 50 homes for shared ownership.
Meanwhile, in Southall, we’ve purchased derelict land which we plan to regenerate into around 500 homes and substantial commercial space (subject to planning).
The proposed £200 million project will provide a range of affordable homes and market sale properties. We plan to start on site in 2018.
Regenerating rundown areas not only provides much needed housing. It helps improve quality of life, transform urban landscapes, restore pride and boost local economies.
Network Homes’ chief executive Helen Evans recently wrote an article for the NewStatesman which talks about the importance of estate regeneration and the role it can play in transforming lives. You can read it here in the Housing Spotlight edition of the New Statesman.