£2billion pledged for Islington homes
- Credit: Archant
Almost £2billion has been pledged to build and improve thousands of new homes over the next 30 years.
Of the cash, pledged by Islington Council in the yearly budget – due to be discussed at a scrutiny committee meeting on Tuesday – £1.5billion is expected to pay for 2,900 new homes during the next three decades.
The town hall estimate they can build 40 homes a year for the next 10 years, then up the rate to 100 properties for the next 10, before raising it to 150 a year, which will cost £15million per annum.
Cllr James Murray, Islington Council’s executive member for housing and development, said: “Islington desperately needs more housing that is genuinely-affordable – and for us that means we need homes for social rent.
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“We are building a new generation of council homes for local people – and we’re also getting social housing built through our firm planning policy, as well as working with housing associations who share our commitment to social rent.”
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