Creating the new homes, new jobs, new community facilities and new opportunities that local people want and need is the cornerstone of our vision for the future of Haringey. Our residents have made their ambitions clear: they want new and better homes to tackle the rising cost of housing and increased homelessness; they want new jobs to improve their incomes and their prospects; they want access to skills and training to increase their opportunities in life; they want access to community facilities, open spaces and quality schools and health services. We share these ambitions.
As a council, we own a significant amount of land in the borough, and it is absolutely right that we ensure that this land contributes to the growth and improvement Haringey needs. But we lack the finance and the specialist expertise needed to bring forward homes, jobs and opportunities at the scale, pace and quality that is needed. That’s why we’ve explored a range of options to find the best way of bringing in the finance and skills we need, and why we have chosen an innovative approach that will enable us to achieve this goal while ensuring that the council retains a share of control – and a share of the proceeds to reinvest in the borough.
The Haringey Development Vehicle (HDV), a 50:50 partnership between Haringey Council and leading property group Lendlease, follows a robust procurement and decision making process. It will unlock land, investment and expertise to enable us to bring 6,400 new homes to the borough, including new affordable homes and a commitment that all social rented housing by habitable room will be replaced as a minimum on redeveloped estates, as well as offering existing social tenants a guaranteed right to a new home on equivalent rent and terms. New homes will go hand-in-hand with thousands of new jobs and a raft of facilities including a new school and health centre as well as skills and training opportunities and community projects and activities.
Further information about the HDV, including a host of frequently asked questions, can be found on the HDV pages of our website.