153 new affordable homes for key workers at Wembley Park
12 February 2020
153 new key worker homes in Brent will allow frontline public sector workers like nurses, teachers and the police to rent homes at an affordable price.
i4B Holdings, the council's wholly owned housing company, is set to purchase a 153 block of homes in Wembley Park that will be let to key workers at 65% of market value, plus service charge.
The new homes, which will be available to rent from October 2020, are part of the council's objective to increase the amount of affordable housing in the borough.
The council is also investing £24 million to buy 60 street properties through i4B Holdings Limited. The properties will be refurbished and let to homeless residents, who might otherwise be placed into Bed & Breakfast or other temporary accommodation.
Both investments were approved by Cabinet on Monday 10 February 2020.
Councillor Margaret McLennan, Deputy Leader of Brent Council said: "We are doing all we can to increase the amount of affordable housing, which is so desperately needed by people in Brent, while ending the number of people facing homelessness. We will continue to look at creative solutions to tackling London's housing crisis; ensuring more hard-working families have access to good quality, genuinely affordable homes."
i4B Holdings Limited was founded in November 2016 and has so far purchased and refurbished 265 properties, the majority of which are located in Brent. The company has housed 232 homeless Brent families, including 574 children.
More information about the new homes will be available from Spring 2020.