The Mayor funds the development of 500 new London homes

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London Mayor Sadiq Khan recently agreed a loan to a developer that excels in developing flats above London’s rooftops. Apex Airspace will receive funding worth £10million. This will see the construction of 500 new homes. Half of them shall be affordable.

This case is special because it is the first time the Mayor has given support to an airspace developer. Apex Airspace will erect homes over car parks, offices, and shops. They might also build them above current homes if possible. Work on the current sites shall begin sometime before 2022.

Potential for more rooftop properties

The company constructs its new homes inside factories. Once they’re 95% finished, Apex Airspace installs them on roofs. This lowers the amount of disruption for people inhabiting the structures below. It is also a much faster and more economic way of creating homes.

There could be a scope for 180,000 rooftop properties in London. Apex has previously operated in West Hampstead and Camden. Furthermore, they recently got funds from the Government’s Homes England.

Housing targets

There are high hopes that Apex Airspace can aid City Hall in meeting its target of 65,000 new homes each year. For decades, London’s housing crisis has been developing. As a result the capital must take advantage of every possible opportunity to create additional genuinely affordable houses. The new rooftop developments can be a great option.

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