Finefair Ltd is the perfect partner for all kinds of landlords. We can look after any portfolio, even if it includes homes in blocks or on estates. Our goal is to ensure the highest standards and to give each client excellent support. So, if you want to work with the best name for property management Redbridge has, choose us.
Creating affordable housing
Across London local authorities are looking to create more affordable housing to help ease pressure in the market. A number of them are taking close looks at all new developments and setting good targets for how many new homes will be available for people on low or medium income. There is also a push to create more social housing.
Redbridge Council has a target of 35%, meaning that developers should ensure that at least this many homes on each project are affordable. However, a number of projects have had issues achieving this. The end result is conflict between councillors about whether to grant permission or send plans back for redesign.
A number of projects have failed to get permission in Redbridge because they did not meet the target for affordable housing. One example is the Harrison Gibson site in Ilford. The original plan only had 12%. As a result, councillors would not give it permission.
Failing to get approval sent the developer back to the drawing board. In September they came back with updates to the plan. This new idea for the site successfully hit the 35% target.
Some projects get approval anyway
However, there are some cases when plans get approval even if they fail to meet the affordable housing target. One project with just 22% affordable housing recently got permission to proceed. Some councillors voted to send it back for updates. However, the majority chose to back the development.
So, why do some projects get approval when they don’t hit the target? Well, it comes down to the specifics of the project and the views of councillors. In this case, the developer was arguing that the construction cost, including cleaning up contamination from previous use, meant they could not hit the affordable housing goal.
Councillors said that 22% was likely to be the best the developer could do. They also expressed concerns that demanding that every project hit the 35% would mean developers invest in other parts of London instead.
Property management in Redbridge
Finefair Ltd has experience managing properties all over London. We can adapt to any needs, always delivering the same great standards. We can also combine services, meaning we are able to manage assets as well as offer guaranteed rent, council leasing, and more.
So, if you want to work with the top name for property management Redbridge has, contact us. We can give you an idea of what we can do for you and learn more about your needs.