Affordable Homes

The proportion of affordable housing proposed in the Phase 1 and Heygate Masterplan applications is 25% (of habitable rooms) as contained as a commitment within the Regeneration Agreement.

The affordable homes are split 50/50 between intermediate and rented. The coalition government introduced a new form of affordable housing called affordable rent which is intended to allow registered providers to charge up to 80% of market rent in order to fill the deficit in grant funding which is no longer available. Lend Lease’s proposals through working closely with Southwark Council have put in place a much lower rent cap in order to address local housing need which is balanced with the objective of creating a mixed and balanced community.

The distribution of types and tenure of homes across the development will be in accordance with the principles of ‘tenure blind’ (i.e. there will be no perceptible difference in the design of buildings when viewed from their exterior.) In order to minimise management costs and enable effective management of affordable homes Registered Providers prefer affordable homes to be provided in separate buildings within each plot. The shared communal amenity spaces within each plot will however be available for use by all residents and won’t be restricted by tenure.