The funding will allow council to deliver an additional 131 new council homes for Islington residents on top of the 550 council homes already planned by 2022.
Cllr Diarmaid Ward, Executive Member for Housing and Development, said:
“We are delighted to have secured £24.2m of funding from the Mayor of London to support the council’s flagship new council homes programme.
“London’s housing crisis has been beyond critical for far too long, and there is a desperate need for genuinely affordable housing to help people in very difficult circumstances.
“This vital funding will help us to deliver an additional 131 council new homes in Islington – on top of the 550 council homes already planned over the next four years. This means that we will deliver 681 new council homes for Islington residents by 2022, which is a massive step towards our objective of delivering decent, safe and genuinely affordable homes for all.”
“However, there is still much that could be done to help councils deliver the genuinely affordable homes our residents so desperately need. The council has been lobbying the Government for some time for greater funding flexibility. While Ministers have recently signalled a review of the rules around this we are yet to see the concrete actions needed to address the housing crisis.”