The Greater London Authority has allocated £41 million to Catalyst, as part of Mayor Sadiq Khan’s Affordable Homes Programme for London.
The Affordable Homes Programme funds three different housing tenures: social rent, shared ownership and London Living Rent, a new rent-to-buy product developed by the GLA where rents are set at one-third of median local incomes.
The money will help Catalyst deliver 1,216 affordable homes at a range of sites across London. The fund will also allow Catalyst to deliver 20 homes at the new London Living Rent at the St Bernard’s Gate development in Ealing.
The grant will help Catalyst continue to deliver truly affordable homes for London, as well as reach the organisation’s goal to deliver 1,000 homes a year by 2020.
Tom Titherington, Executive Director of Property & Growth said, “This funding will be put to good use at a number of our sites across London, helping us to deliver high-quality, affordable homes in truly mixed-tenure, sustainable communities.”