Boroughs have launched their third annual Guide to Development in the City of Opportunity, reaffirming their commitment to securing the investment that ensures “London continues to thrive”.
The guide is used by each of the 32 boroughs and the City of London for setting out their vision for development in their local area.
While celebrating the capital’s success as a powerhouse of the UK economy and global city attracting businesses from all over the world, boroughs highlight London’s acute housing and infrastructure pressures. London faces the most severe homelessness crisis in the country, with 57,000 households living in temporary accommodation – including 88,000 children.
Boroughs are determined to attract international investment that brings clear benefits to their communities, such as high-quality affordable homes, new jobs, and transport links.
Cllr Peter John, Chair of London Councils, said:
“London is a city of boundless creative energy and opportunity across all its 33 local authorities. We need investment from around the world to drive economic growth and ensure London continues to thrive.
“London boroughs are determined to play our part in telling London’s story and attracting that investment. As part of this effort we are launching the Guide to Development in the City of Opportunities and I, along with other borough leaders, will be going to MIPIM, the world’s largest investment market, to ensure that in the post-Brexit era, investors hear the message loud and clear that London is open for business.”
Cllr Darren Rodwell, London Councils’ Executive Member for Housing & Planning, said:
“Although London’s booming population is a sign of the city’s success, we can’t afford any let-up in securing the investment that brings new homes and jobs to Londoners.
“Boroughs have an appetite to do more for local communities – to build more housing, to create more opportunities, and to attract more investors. We use our own powers and resources to the best of our abilities, but we also need to build strong partnerships with the development industry to achieve our ambitions.”
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Notes to editors
- London boroughs are committed to tackling the capital’s housing crisis through delivering more affordable homes. However, boroughs have repeatedly highlighted the constraints that undermine council housebuilding efforts. London Councils is calling for an end to all restrictions on boroughs’ use of Right to Buy sales receipts so that every penny raised from council house sales can be reinvested in local housebuilding. London Councils also wants confirmation of long-term social rent levels, as this will aid financial planning and housing delivery.