Property News · February 10, 2017

Out of the box: councils try innovative projects to provide social housing


Constrained by government and with a lack of funding, local authorities are becoming developers to tackle the homes crisisIn Hackney, east London, a pair of luxury apartment towers are fast rising above Shoreditch Park, soon to boast multi-million pound penthouses designed by Sir David Chipperfield. It’s not an unusual sight in the capital – except for the fact that the project was the council’s idea, as a canny means of paying for the regeneration of the estate next door.It is what the borough’s head of regeneration, Karen Barke, describes as an “unapologetically commercial approach, but with a social purpose” – part of Hackney’s plan to build around 3,000 homes over the next seven years, half of which will be for private sale, to cross-subsidise the construction of more affordable housing. Continue reading…

Source : theguardian.com
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