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There will be 7,000 homes in five neighbourhoods, 35% of which will be affordable housing.
The Greenlawn project involves 47 houses, 2 of which will be affordable units; the Melville project has 44 houses and 40 rental apartments, all of which will be affordable.
The building will have 229 studio, one- and two-bedroom apartments, 46 of which will be affordable units reserved for low-income tenants.
Such a situation has emerged at Mount Pleasant in north London, where the Royal Mail Group has proposed a fortress-like scheme of 700 flats, only 12% of which will be affordable.
Peabody will build 525 homes at Southmere village, 230 of which will be affordable, plus a library, cafes, restaurants and shops around a public square on the banks of Southmere Lake.
The Bacton Estate is the first result of its Community Investment Programme, a plan to build 3,000 new homes, half of which will be affordable, using the sale of private market units to pay for new social housing – crucially without any of the value leaking into the pockets of a private developer.
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The new agreement splits the difference, calling for 1,000 new units of housing, half of which will be permanently affordable.
As we just announced, we will start construction of the first residential building, which will be 50 percent affordable, on Dec. 18.
We have also established a company which will build thousands of homes, many of which will be genuinely affordable for low-paid residents and we will continue to invest, so that in a few years half will be subsidised.
"The project will deliver 216 new homes, of which 11% will be affordable as approved and adopted by the formal planning process which took into account the wider area when giving consideration to the requirement for affordable homes.
We're launching a completely new car next year called the Global Hybrid, which will be significantly more affordable than the current Civic Hybrid – bringing green motoring to a wider audience".
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