Initiative will regenerate 42 council-owned sites over next five to 10 years
Tower Hamlets’ cabinet has approved £143m of funding to deliver the first 10 sites in the borough mayor’s flagship housebuilding programme, which is targeting a total of up to 3,300 new homes.
The first phase will build 351 new homes across 10 sites. The wider initiative, dubbed the ’mayor’s accelerated housing programme’ (MAHP), will regenerate 42 council-owned sites over the next five to 10 years, providing a minimum of 51% affordable housing by habitable room on each development.
The £143m of initial cabinet funding will be offset by a Greater London Authority grant of £70m, subject to securing grants from the mayor of London’s affordable homes programme (AHP) and £30.6 million from right to buy receipts.
At the same cabinet meeting earlier this month, the council approved a separate budget of £5.7m to deliver community service provisions as part of the Bethnal Green Professional Development Centre – a MAHP site that will provide 44 new homes.
These provisions include a new ‘Idea Store’, a community centre offering library services and adult learning courses, alongside a domestic abuse support centre known as a ‘One Stop Shop’.
Further public consultation will continue ahead of planning submissions, the council has said.
It added that the MAHP will include a “significant portion” of social rent homes, alongside investment in public realm, biodiversity, transport and community infrastructure.
Construction is expected to start on some sites from late 2027.
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