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LLDC housing (2)

Questions to the Mayor of London – answered on 17th October 2019.

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Photo of Navin Shah Navin Shah Labour

The LLDC Corporate Performance Report says there is a “Risk relating to future housing development delivery”. Can you outline what the risk is and what the mitigations are?

Photo of Sadiq Khan Sadiq Khan Mayor of London

LLDC’s plans include delivery of housing developments (with mixed use and community facilities) on LLDC land at Pudding Mill Lane, Rick Roberts Way, Stratford Waterfront and Hackney Wick. As with all housing development of this scale across London there are risks relating to the wider financial and political climate. These include Brexit (which impacts on the cost and availability of labour and materials in particular) and changes to market demand and house prices, all of which impact on the timing of delivery and level of housing receipts.

To mitigate against this, LLDC are working closely with my housing team to deliver a housing strategy in line with my policy requirements, that ensures optimal delivery structures are agreed for each development and attractive opportunities are presented to the market to stimulate interest from developers. It will also ensure market conditions are understood and monitored and that all relevant stakeholders, including relevant local boroughs, landowners and local residents are engaged.