Mayor Sadiq Khan has revealed over the next 12 years, around 3,000 new homes will be built on three legacy sites at Stratford Waterfront, Pudding Mill and Rick Roberts Way.
A total of 600 homes will be delivered at Stratford Waterfront, 1,500 at Pudding Mill and 900 at Rick Roberts Way, subject to planning permission. Up to 50% of the homes will be made 'affordable', with the Mayor forgoing income from the sites and absorbing the cost, as well as investing housing and infrastructure grants and proposed funding of around £10m of City Hall funding a year over 20 years.
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Mayor Khan said: "It's vital that our Olympic legacy truly benefits Londoners, and that includes affordable housing as well as culture, education and business. While I cannot change the deals that were agreed before I became Mayor, I'm committed to ensuring that at least half the homes across the three remaining sites for development will be social rented or other genuinely affordable homes.
"There's no getting away from the fact that to deliver on this commitment costs money – but this is an investment, and City Hall and the public sector in general will benefit from council tax and business rates thanks to the incredible regeneration of the area.
"These will be genuinely affordable homes that Londoners desperately need. I'm prepared to put my money where my mouth is in my proposed budget next year and make sure they are delivered – and I urge the London Assembly to help me do this."
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