Decision today by Communities agency on who gets St Clement’s land
PUBLISHED: 16:21 20 February 2012
The Homes & Communities Agency’s London regional board is meeting at City Hall, chaired by Mayor Boris Johnson, which is expected to make its choice this-evening.
The site in the Bow Road could become London’s first community land trust development, if campaigners in the East End get their way.
The high cost of land would be separate from the property built on it to reduce housing costs by three-quarters. Anyone buying a property would have to sell it back to the trust if they moved on, so the low cost would be passed on to future generations.
A bid has been put in by the East London Community Land Trust—which is believed to be up against two commercial rival bidders.
The trust’s spokesman said: “We are wholly committed to community-led regeneration of St Clement’s and are currently waiting for the outcome of the agency’s decision about their preferred developer.”
But today’s board meeting is behind closed doors. The decision on who gets St Clement’s is not expected yet.
Boris Johnson pledged in his 2008 election manifesto to build permanently affordable houses through a community land trust in his first term—which is up in May.
If you value what this story gives you, please consider supporting the East London Advertiser. Click the link in the orange box above for details.