Haringey to enter into partnership with private sector for new jobs and homes

A new project to provide homes and jobs on council land has been agreed by Haringey council.

The council will enter into a joint venture with private sector partners, after the idea was backed by the council’s cabinet tonight.

The partnership will see the local authority working together with private firms that they hope will bring significant expertise and funding to deliver space for thousands of new jobs and homes, including for affordable rent and low cost home ownership.

The council would need to borrow £1.4bn to complete the improvements by itself.

The new approach will create one of London’s biggest public-private partnerships.

Creating a development partnership was one of the key recommendations of the council’s future of housing review, led by a cross-party panel of councillors and tenants who visited councils across the country to understand the advantages and disadvantages of the different models of providing housing.

Haringey Council Leader Claire Kober said: “Haringey is the future of London, and our ambitious regeneration plans are vital for our borough’s prosperity – bringing the modern, high-quality homes that residents deserve and making sure new jobs here are at the heart of the capital’s growth.

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“We believe that regeneration shouldn’t just be about new bricks and mortar – it should be fundamentally about improving residents’ lives, thriving town centres and strong, mixed communities.”