The City of London Corporation has approved £211m to upgrade its 12 housing estates in the Square Mile and across six boroughs in London.
At a meeting of the Court of Common Council, elected members agreed to allocate £152m from the City’s fund to support the works.
The investment will cover upgrades for 2,900 homes, including new windows, kitchens, bathrooms, updated heating, refurbished lifts, electrical work, new roofs, and communal area improvements.
The works will be delivered over 10 years across the City, Hackney, Islington, Lambeth, Lewisham, Southwark, and Tower Hamlets.
The funding package will also help cover a gap in the housing revenue account caused by underfunding, higher construction costs and new national safety requirements.
City of London Corporation Policy Chairman Chris Hayward, said: “Providing good-quality, safe homes for our residents is a fundamental responsibility, and today’s decision demonstrates our absolute commitment to that duty.
“This is a major investment in people, communities, and the long-term future of our estates.
“We will accelerate improvements, enhance compliance, and deliver the modern, sustainable homes our residents rightly expect.”
Chair of the City of London Corporation’s Community & Children’s Services Committee, Helen Fentimen, said: “This investment marks a turning point for our residents and our estates and ensures we can continue to deliver on the programme of major works and improvements that is already underway.
“We recognise that the scale of work required has long exceeded the resources available within the HRA, and we have taken decisive action to put that right.
“Our residents deserve safe, warm, high-quality homes, and this next phase of the Housing Investment programme will deliver exactly that, ensuring we meet the highest standards of safety, sustainability, and landlord responsibility.”
Fentimen added: “We are committed to delivering repairs and maintenance across the board and will ensure that the highest standards then continue to be delivered.”
