A pioneering housing association established in partnership with Newham Council has been given the green light to provide a further 800 homes for homeless families.
The Mayor of Newham and Cabinet approved the expansion of registered social landlord Local Space yesterday last week. This means that Local Space will now be able to purchase and develop an additional 800 properties which will be used by the council for homeless families.
These homes will be delivered over four years and provide the council with a sizable supply of new good quality local accommodation. The council will have exclusive nomination rights for these homes which will be available at rents prospective tenants can afford. The new properties will be primarily two and three bedroom homes
Local Space is a unique registered social landlord which was set up in 2006 to increase the supply of accommodation for homeless families in the borough. To establish Local Space, the council initially transferred 450 properties into the scheme and enabled the financing to purchase a further 1,000 homes.
The scheme has gone from strength to strength with Local Space now owning 1,800 homes across East London. Local Space is now a major asset owning organisation, worth nearly £400m from the council’s original investment of £50m.
Since it was set up, nearly 3,600 homeless households have benefited from a home provided by Local Space.
Sir Robin Wales, Mayor of Newham said “London’s housing crisis is felt acutely in Newham and we have a shortage of good quality accommodation to offer our homeless families. Local Space offers a significant solution to this problem. In partnership Newham and Local Space are providing thousands of families who need a home, a quality property in Newham, East London and the surrounding areas.”
“It is a testament to the success of Local Space since 2006 and the hard work of the Council and Local Space that we are able to expand the number of homes offered.”
“We want families to stay in Newham but for those on low incomes, this is becoming increasingly difficult with rapidly rising rent increases in the private rented sector. Local Space will offer a helping hand to those who need it, giving them an affordable home. I am proud that we have been able to help thousands of families in this way and by expanding the scheme, we can now help even more.”
John Layton Chair of Local Space commented “Local Space is committed to assisting with the acute shortage of affordable accommodation for homeless households in East London. This new agreement will enable Newham Council and ourselves to make a significant increase in the supply of homes over the next four years. We strongly welcome the support the council has given us which makes this new initiative possible. The Local Space Board is very proud of the strides made jointly over the last ten years.”