Lambeth Council has been given the green light to redevelop one of its council estates under plans to deliver more homes to the borough.
The council will now be able to replace 306 homes on the Cressingham Gardens estate, many of which are in a poor state of repair it said, and provide more homes for council rent.
The new development will have a minimum of 464 homes and will include social housing, affordable housing and homes for market sale/rent.
Work will range from partial rebuild to total redevelopment of the existing homes, including the demolition of existing buildings.
Refurbishment was ruled out as unaffordable by the council.
Lambeth said that social tenants, who have to move as a result of the work, will be offered a new “lifetime” home at council rent levels.
Resident homeowners wishing to stay on the estate would be offered a swap to a retained property on the estate subject to availability and their ability to port their mortgage.
The cost of bringing the estate to the Lambeth Housing Standard is £9.4m – £6m more than the original 2012 Lambeth Housing Standard business plan made provisions for.
This cost would need to be met from within the Housing Revenue Account as there is currently no provision for this level of cost within the council’s LHS programme.
Cressingham Gardens is one of six estates on the council’s estate regeneration programme, which has been set up to find ways to improve the quality and size of homes on Lambeth’s housing estates.
The council is aiming to deliver 1,000 extra homes at council rent levels.