{"id":53713,"date":"2019-03-08T14:18:42","date_gmt":"2019-03-08T14:18:42","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=53713"},"modified":"2019-03-08T14:18:42","modified_gmt":"2019-03-08T14:18:42","slug":"peabody-holloway-prison","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/peabody-holloway-prison\/53713\/","title":{"rendered":"Peabody secures former Holloway prison site to build 1,000 homes"},"content":{"rendered":"

\"Holloway<\/h2>\n

Peabody<\/a> housing association has acquired the former Holloway Women\u2019s Prison site in London for \u00a382m, to build more than 600 social rented and affordable homes<\/h2>\n

The deal, which includes a \u00a342m loan from the London Mayor\u2019s Land Fund<\/a>, has enabled Peabody housing association to buy the site. It requires Peabody, working in partnership with private developer London Square, to start work by 2022 on over 1,000 homes, of which at least 60% must be social rented and other genuinely affordable homes.<\/p>\n

City Hall worked with Islington Council<\/a> on the planning policy for the site, which set a minimum expectation of 50% affordable housing. The Mayor\u2019s loan deal requires this to rise to 60%, and of these affordable homes, 70% will be social rent, with the remainder either shared ownership or London Living Rent.<\/p>\n

Making the announcement today (8 March), Sadiq Khan said: \u201cFor too long, Londoners have rightly been fed up of seeing public land sold off to the highest bidder and then developed with little or no social or affordable housing<\/a>. We have made sure the Holloway prison site will be different.<\/p>\n

\u201cOur ground-breaking loan to Peabody means the majority of new homes on this site will be genuinely affordable \u2013 with around four in 10 of all new homes being for social rent. We\u2019ve developed planning policies with the council that support this, and that also set out how the development should include public green space and a new centre for women.<\/p>\n

\u201cThis shows what is possible on public land. We\u2019ve been able to do this even with the limited powers we currently have. Ministers now need to play their part and give us the step-change in investment and powers over land we need to truly fix London\u2019s housing crisis<\/a>.\u201d<\/p>\n

Homes on the site will start by 2022, with the aim of completing by 2026.<\/p>\n

Brendan Sarsfield, Chief Executive of Peabody, added: \u201cWe are committed to working with LB Islington and the GLA to deliver an exceptional new housing scheme on this historic site.<\/p>\n

\u201cWe are pleased to confirm we will deliver 60% level of genuinely-affordable homes integrating existing Islington communities with a new Peabody estate.\u00a0 As well as providing new homes we will also ensure social infrastructure and placemaking are at the heart of our proposals.\u201d<\/p>\n

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I\u2019m delighted that the old Holloway Prison site will be transformed into much-needed housing by @PeabodyLDN<\/a> with a loan from our Land Fund, with 60 per cent of the thousand new homes to be socially rented and genuinely affordable. pic.twitter.com\/SNBqUagVT9<\/a><\/span><\/p>\n

\u2014 Mayor of London (@MayorofLondon) March 8, 2019<\/a><\/span><\/p><\/blockquote>\n