Many hard-pressed local authorities around the country are struggling to make ends meet, let alone deliver major housing growth. But one north London authority is progressing a strategy to meet local housing need and improve its financial fortunes at the same time.
The London Borough of Harrow, working alongside regeneration consultancy Inner Circle Consulting, has prepared a regeneration strategy that seeks to deliver 5,500 new homes over ten years in Harrow and Wealdstone town centres. Forty per cent of these homes would be affordable.
The programme, Delivering Harrow’s Regeneration, won a Planning Award for housing growth in June, with judges praising Harrow’s proactive approach to housing delivery. The strategy also aims to create 3,000 new jobs and introduce key public realm improvements.
Jamie Ounan, director of Inner Circle Consulting, says that the model of retaining land ownership and leveraging capital value from the assets, as well as ground rent, is influenced by the "Great Estates" - the London estates that have used this form of property management since the 17th century. He cites income from ground rent, maintaining assets to endow future generations and retaining control over design quality and place-making as key benefits of the programme’s approach.
To read the full article go to http://www.planningresource.co.uk/article/1410653/it-delivering-homes-balance-books