Catalyst and A2Dominion have been announced as strategic partners among eight other housing associations to deliver 60% of new homes as affordable housing
A2Dominion and Catalyst will share £288m to deliver 4,705 affordable homes. The project is due to start before March 2022, with 3,250 units based on social rent levels and 1,449 London Living Rent or London Shared Ownership.
Catalyst have been awarded £22.3m to deliver 455 affordable homes in London.
Tom Titherington, Executive Director of Property and Growth at Catalyst, said: ‘Our strategic partnership with the GLA is an example of Catalyst’s commitment to deliver as many genuinely affordable homes for Londoners as we are able.
“The changed method of support from the GLA will be key to us to starting construction of over 1,600 new affordable homes before March 2021- a 12% increase on what we had previously planned.
“With the majority of the new homes set at social rent levels, we will be helping those that need it most, but the support of the GLA will also enable us to deliver those larger multi-tenure, mixed-income, place-changing projects so essential for London’s long-term economic and social strength.”
The funding comes from the £1.67bn allowance allocated in the Spring Statement and will go towards building 116,000 affordable homes by March 2022.
A2Dominion has been tasked to build 2,184 affordable homes by March 2022, whilst Catalyst is expected to deliver 1,671 within the same time frame.
The chief executive of A2Dominion has said that the company are pleased to have been confirmed for the plans and appreciates that the funding will allow them to deliver much needed affordable properties across London to help the UK’s housing crisis.
