Canada Water Project: Affordable Homes May Drop to Just Ten Percent

The Canada Water project might have less cheap housing. They could cut it down to only ten percent. New plans went to Southwark council. These plans change the original designs. The buildings could be taller than expected.

British Land’s first plan met local rules. It had thirty-five percent affordable homes. Twenty-five percent were for social rent. Developers say keeping that level could mean losing money. They shared this detail in a viability assessment.

Revised plans cite rising costs and new rules. Developers want taller structures and fewer affordable homes. A local councillor feels concerned by these changes. He thinks the community was told something different.

The council must check the developer’s numbers carefully. He wants the original agreement followed. Less than 35% affordable homes is not right. Locals really do need affordable places to live in Surrey Docks. People have worked with developers for ten years.

Recently, people protested overdevelopment in Southwark. About 600 people rallied because they wanted cheaper homes. Berkeley Homes also cut its affordable housing offer. They reduced it by more than seventy percent.

Another councillor criticizes Southwark council. He says they are letting developers walk all over them. Promises of affordable housing get broken often. He says the council lacks skills to challenge developers. Affordable housing levels keep falling below targets.

A different councillor said ten percent affordable housing is not okay. Delivering thirty-five percent is a must for Canada Water. Developments must help current locals get better housing. Hopefully, British Land will work with the council to help.

British Land says they are still talking with the council. They want to make the affordable housing amount as big as possible. They can’t say the exact percentage yet, because talks continue. They say they made strong progress in Canada Water. They deeply commit to local benefits.