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Delivering Estate Renewal Future of London

6th November 2014 David Lunts Executive Director, Housing & Land GLA


‘Politics’ is never far away


In the beginning‌.


Holly Street LB Hackney


Kidbrooke (Ferrier Estate): Berkeley/RBG/GLA


Acton Gardens Countryside/L&Q/LB Ealing


Wornington Green Catalyst/RBK&C


Woolwich Three Estates Lovell/RBG


Woodberry Down Berkeley/LB Hackney


Blackwall Reach LB Tower Hamlets/Swan/GLA


Heygate, Elephant & Castle LB Southwark/Lend Lease


And finally‌..Aylesbury Notting Hill HT/Barratt/LB Southwark


Where are the estates? • 25% of total stock (c800k homes) • 33% of Inner London stock is affordable • 18% Outer London • RTB @ 34% of total

60,000 50,000 40,000 30,000 20,000 10,000 0

Percentage affordable 50.00% 45.00% 40.00% 35.00% 30.00% 25.00% 20.00% 15.00% 10.00% 5.00% 0.00%

Total affordable


Today’s London context • • • • • • • •

>100 schemes, 35,000 home pipeline Projects led by range of organisations: Joint Ventures; house builders; master developers; HAs and boroughs Place making, mixed communities and opportunities for broader regeneration Uneven record across boroughs Drive to optimise use of public land Pressure on HRAs and HA asset management Stock condition (90,000 non-decent homes) Strong values create opportunities for cross-subsidy


Estate regeneration: pressures • • • • • • • • • • •

Local resistance to disruption & change Cost and risk (inc. CPO) Time (cost & politics) High dependence on cross-subsidy through sales Valuations? RTB Decanting Limits to densification Service charges Absence of gap funding programmes Local capacity and experience


Policy solutions & options • • • • • • • •

Deferred land purchase Joint ventures/risk sharing partnerships Flexible funding (Housing Zones, LHB etc) New £150m estate regeneration fund (low cost loans) HRA self-financing & borough direct development Broader definition of ‘no net loss’ policy Wider mix of affordable products Collaborative effort and skill sharing


Delivering Estate Renewal  

Presentation from David Lunts, Executive Director, Housing and Land, GLA, given at Future of London's conference.

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