Britain

Joint ventures leave poorest at the mercy of property developers | the big issue

Gambling with a community’s prized assets such as council homes is rarely the ideal way forward

The Haringey Development Vehicle (HDV), a joint venture between the council and a multinational property developer, addresses the needs of 9,000 households for council homes, according to Dave Hill (“Regeneration – or excluding the poor? Labour divides in bitter housing battle”, Viewpoint), but the figures don’t add up.

Only 2,000 of the 5,000 new units to be built will be “affordable”, when what is needed is social housing at 50-60% of market value, and the plan to bulldoze the Northumberland Park estate will displace a further 1,300 households, so where is the benefit to council tenants?

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