London benefits by £17,000 a year from each home let at subsidised rents to key workers.

Peter Bill writes in the Evening Standard;

“London benefits by £17,000 a year from each home let at subsidised rents to key workers.

A cost-benefit analysis by Westminster University for the Dolphin Square Foundation says housing lower-paid workers boosts the economy of the capital.

New York Mayor Bill de Blasio feels the same. Yesterday he launched a $41 billion (£24 billion) 10-year plan to construct or preserve 200,000 affordable homes. Developers will be forced to build 20% of homes on-site, some with rents as low as 10% of the open-market figure. In return, the developer gets to build one third bigger than the rules allow.

“We have a crisis of affordability on our hands,” said de Blasio. “It touches everyone. This plan thinks big because it has to.” Anyone like to think big about London?”

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This entry was posted in Affordable Housing, Cost of Living, House building, Housing, Planning permission, Social Housing and tagged , , , , , . Bookmark the permalink.

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