Work has started on a housebuilding programme in Eltham that will provide 29 new affordable homes to rent.
The development is the first phase of a partnership between the Royal Borough of Greenwich and Meridian Home Start, a community benefit society set up by the council.
The development will see the construction of 10 new three-bed, 15 two-bed and four one-bed homes. Three of the properties will be wheelchair friendly units. The properties will be rented to working Greenwich residents at considerably less than the market rent.
Cllr Denise Hyland, Leader of Royal Greenwich, said: “As a community benefit society, Meridian Home Start can access funding streams that are not available to the Council. This has meant we can increase the supply of genuinely affordable homes for residents in the borough. The Council takes seriously its commitment to our strategies for growth and anti-poverty and Meridian Home Start is a great way of helping deliver on that promise. “
The scheduled date for completion of the Jack’s Acre development is May 2019. Planning is well advanced on two other sites being developed by Meridian Home Start in partnership with the Royal Borough. This will see the construction of 32 new homes in Sandpits Place and a further 33 properties in Carnbrook Road.
Meridian operates independently of the Council, is free from restrictions on borrowing imposed by the Government and able to maximise the opportunity to utilise Right To Buy receipts for the benefit of residents within the borough.
Richard Reynolds, Chair of Meridian Home Start, said: “We are delighted that the partnership between Meridian Home Start and Royal Greenwich is delivering much-needed affordable homes to residents in the borough. We expect this to be only the first phase of a long term, ambitious programme creating hundreds of new homes in the borough.”
Meridian Home Start is in discussion with Greenwich Local Labour and Business (GLLaB) about offering apprenticeship opportunities on the Jack’s Acre development.
A further three sites will be transferred across to Meridian Home Start later this year.
