Positive impact of EU funding on more affordable homes for Londoners

February 13, 2015

At a time when Londoners are faced with ever increasing rents in often sub-par housing, the Docklands Settlement Scheme in Rotherhithe demonstrates the positive impact the EU can have of the everyday lives of local people.

It is one of several projects across the UK, half of which are being built in London, that is benefiting from £400m of loans from the European Investment Bank (EIB).

Today, I visited the scheme with Neil Coyle, Labour’s parliamentary candidate for Bermondsey and Old Southwark, Mark Williams, Cabinet Member for Regeneration for Labour-led Southwark Council and Labour’s Housing Spokesperson on the London Assembly, Tom Copley AM.

The recently completed development includes five new sustainable, energy efficient social housing units, four shared-ownership properties and eighteen private properties constructed to level 4 or higher standards, alongside an excellent community centre and sports facilities for the local community.

I’m delighted that the EIB is providing such a tangible example of the positive effect membership of the European Union brings not only to the country as a whole, but to individual communities as well.

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