Homes England has provided £309 million to fast-track three major London developments being delivered by an array of architects
Argent Related and Barnett Council have been loaned £148 million for land and infrastructure works as part of its 180-acre Brent Cross scheme in west London.
The project has been masterplanned by Allies and Morrison, with architects including Squire and Partners, Maccreanor Lavington, Glen Howells and White Arkitekter also designing plots.
The cash boost from Homes England will speed up the 6,700-home mixed development by four years, according to the public housing body.
In east London, the £1.2 billion Silvertown Quays scheme by Lendlease and Starwood Capital Group has been loaned £105 million by Homes England.
Architects including Prior & Partners, Pollard Thomas Edwards, Maccreanor Lavington and RIBA Stirling Prize-winners AHMM and dRMM will see projects accelerated as a result of the funding.
The Silvertown Quays scheme will provide 3,000 new homes as well as shops and offices on a 62-acre brownfield site in the Royal Docks in Newham.
Another £56 million funding will speed up delivery of roads and social infrastructure at Barking Riverside, a 10,000-home scheme masterplanned by Liftschutz Davidson Sandilands.
The development by L&Q will also have seven new schools and 65,000m² commercial and leisure place, with buildings by White Arkitekter, Jestico + Whiles and Anthony Carlile Architects.
The money is being loaned out of Homes Englands’ £4.5 billion Home Building Fund.
Gordon More, chief investment officer at Homes England, said: ‘Despite the unusual and challenging situation the housebuilding sector, and indeed the whole country, is currently facing, Homes England remains open for business and committed to helping our partners deliver much-needed new homes.
‘By investing in projects on this scale and allowing funding to be recycled into future phases of development, we are able to support significant schemes where commercial lenders may not,’ he added.
‘This means these three major developments can invest in the infrastructure they need to deliver in these uncertain times and accelerate the delivery of new homes.’