The HCA London Board, chaired by the Mayor of London, Boris Johnson, has agreed to invest over £16m in the latest two projects from its programme to 'kick start' developments in London that have been affected by the economic downturn. The Board allocated over £13m and £3m respectively to Clapham Park in Lambeth and Hale Village in Haringey to enable the immediate progression of these projects in spite of adverse market conditions. Both schemes will contribute to the Mayor's affordable housing targets. Mr Johnson, said: "We have ensured another two important developments can move forward and deliver more desperately needed affordable housing for our city. This is good news for those who will benefit from the new homes being built and for the many jobs in the construction sector that these projects will sustain. Despite the economic downturn, it is vital that we keep investing in our city and improving our infrastructure. Investment like this will support and help our economy grow so that London is fighting fit to compete in the global market place when the upturn comes."

-- Advertisement --

Chris Lee, Executive Director for Housing, Regeneration and Environment at Lambeth Council said: "This is great news for the Clapham Park estate, neighbouring areas and local residents. Our newly launched housing strategy makes clear our commitment to work with partner organisations to provide good quality new and affordable homes, and this scheme is a welcome boost to the 1,600 new homes we are already planning to provide."

(CD/JM)