Hundreds of new houses are to be built by Croydon Council’s in-house property company Brick by Brick, after the local authorty agreed to sell the developers more 60 sites across the borough.
The move aims to create around 500 properties for both rent and sale and 50 per cent per cent of them will be affordable. The 60 new developments will be suitable for fewer than 10 homes, ranging from infill sites to land next to council tower blocks.
Brick by Brick was established by the council in 2016 with the aim of providing well designed, affordable homes for local people. The aim is to add value to existing neighbourhoods and deliver a return on investment to the council, which is the main shareholder.
The company is building on a range of small sites with a handful of homes, apartments for first time buyers, family houses and bigger schemes in more central locations.
Councillor Alison Butler, Deputy Leader and cabinet member for homes and Gateway services said: “Croydon has a housing crisis, homes of every tenure are required. Brick by Brick is already delivering hundreds of new and affordable homes right across the borough, and this decision now means they can provide hundreds more.”
The first Brick by Brick homes in Upper Norwood are on sale now and they are nearly completed. Work is almost finalised at the first development fully affordable in Thornton Heath, site of a former care home.
Councillor Simon Hall, cabinet member for finance and resources, said: “As well as delivering much-needed full-price and affordable homes for Croydon people, the way we set up Brick by Brick means any profits are reinvested in council services and to build more homes.”
The Ministry of Housing, Communities and Local Government say there were 47,355 affordable homes delivered in England in 2017-18, an increase of 12 per cent compared to 2016- 17. 90 per cent of affordable homes delivered in England were new build, similar to the previous year.