In a previous article we wrote about the work Islington Council had been doing to ensure that developers met their planning policies in terms of creating affordable homes. One of the things they did was claim that businesses could not use finance as an excuse for not creating enough housing for people on lower earnings.
The move was a positive one but sadly other local authorities are facing similar problems with developers. Westminster Council for example has had an issue with the Paddington Green project. The developer Berkeley Homes originally submitted plans to create 200 new luxury apartments with no affordable homes. The plan was created even knowing that the Council’s policy is for developments to have 35% affordable housing.
The initial submission was denied, even with the developer stating that it was not financially viable to create cheaper homes. They ultimately went back to the drawing board and returned with an updated plan. This time 32 of the 200 apartments would be designated as affordable. Although this only accounts for 16% of the homes the plan was given the go ahead.
Before the project can proceed though, London Mayor Sadiq Khan will have to give approval. This may cause some further issues, particularly with the Mayor recently stating his displeasure for the reduction in the number of affordable homes created at Battersea Power Station. Again the developer claimed financial viability to be the problem.
At Finefair we have built a strong reputation as one of the best providers of estate management City of Westminster landlords can work with. We understand the challenges that developers face and the situation local councils find themselves in when it comes to creating affordable housing. It is a tricky time but solutions need to be found.
We are proud to provide services whenever needed, ensuring that estates are managed effectively, whether it is a single block of apartments or numerous buildings in an area. We can scale our service to suit any need, ensuring that the standards are retained and making sure developments have a brighter future.
If you have any questions about our services or would like to arrange a consultation with the best team for estate management City of London clients can deal with, please call us.