Haringey Labour will be investing £1billion into housing in the next five years.
The budget will include £247.5m on new housing plus £433m on buying new homes. In addition, £385.3m will be invested into existing stock and a loan of £37m will be used to create a new housing company.
This is part of Labour’s committment to building 1,000 new social homes in Haringey by 2022.
Deputy Leader of Haringey Labour, Emina Ibrahim was proud of Haringey’s £1billion of investment.
She said that it was ‘Radical Labour municipalism in action in Haringey…not only are we building new homes but we are improving the conditions of the new homes we already have.’
Last year, Haringey Council voted to cancel the plans for a ‘Haringey Development Vehicle’ a regeneration scheme with the developer Lendlease.
As the investment demonstrates, this Labour administration has found alternative ways to build new homes and improve the quality of existing social housing in the borough