At least half the new homes built on public land in London must be under affordable category to benefit from faster planning permission as part of a novel approach to development set out in guidance published recently by Mayor Sadiq Khan.
The Supplementary Planning Guidance (SPG) sets out an innovative approach to increase the levels of affordable housing, while also speeding up decisions in the planning system. It will help raise affordable housing levels from the low of just 13 per cent given permission that the Mayor inherited from his predecessor.
This is a positive step for affordable housing because it offers developers of private land a fast-track route through the planning process - bypassing costly and protracted viability negotiations that have become the norm for applications in London - if they meet a strict minimum of 35 per cent affordable housing without public funding. Developments on public land will have to achieve at least 50 per cent affordable housing to qualify for the fast-track route.
The Mayor has been proactive in implementing plans, funds and reforms to tackle the London housing crisis from the long-term. There are specific checks and balances, as all developments should get underway within two years of planning permission being granted, or else they face detailed scrutiny of the financial modelling behind their plans.
This team, drawn from the public and private sector, was introduced by the Mayor earlier this year to scrutinise in detail the financial modelling behind developers' plans.