Developments that will deliver more than 500 affordable homes for the capital have received a boost by the London Mayor Boris Johnson and the London Homes and Communities Agency (HCA).

Investment for 16 housing and regeneration schemes has been approved by the HCA London Board, chaired by the Mayor, and will deliver a total of 518 affordable homes to help meet London's housing needs.

The schemes, originally included as part of the previous Government's Housing Pledge, had been at risk because of funding uncertainties, but are now secure thanks to the commitment of more than £50m from the HCA and the Mayor.

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The 16 projects consist of seven former 'Kickstart' and nine local authority new build schemes. In total more than £51.7m of investment is being provided to support these projects from the London region budget.

In addition, nine local authority new build projects being supported will provide 146 new rented homes for 665 people. Each scheme is expected to contribute to the Mayor's target of 50,000 new affordable housing completions by March 2012. The majority of these developments will deliver a high percentage of large family sized homes which are in particularly high demand. One example is the Rollo Estate New Build in LB Wandsworth where three quarters of the 38 homes will be larger units for families. The schemes will also now be delivered at lower cost than originally forecast.

Mr Johnson said: "Housing must remain a priority which is why we have rescued these schemes from the spectre of the credit crunch and delivered the cash needed to get construction up and running but at less cost to the public purse."

(CD)