Regeneration funding announced for capital
Regeneration schemes in London that have been put on hold as a result of the economic downturn are set to be given a boost.
Mayor Boris Johnson has revealed that £77 million will be made available to improve housing estates, kick-starting stalled projects.
He explained that the money will ensure that poor quality housing is addressed, while overcrowding will also be tackled.
"It is essential that schemes to regenerate and renew the most deprived parts of our city go ahead despite the credit crunch and this funding will play a crucial role," said Mr Johnson.
An additional £55 million is also to be invested in order to provide larger family homes and reduce homelessness.
Last week it emerged that £450 million is to be provided for regeneration efforts in Croydon, through a public private partnership between the council and developer John Laing.
Housing and retail space are included in the plans.
Published 11th December, 2008
© 2008 Estates IT Limited
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Regeneration schemes in London that have been put on hold as a result of the economic downturn are set to be given a boost.