The 5 site development is expected to start March 2017 and end March 2019.
What will be built?
43 new homes
12 for rent to key workers at intermediate rents
31 for rent at "affordable" rents
A new community centre on Elgin Avenue
A new nursery and community offices
A facelift for existing homes on the Elgin estate
A number of communal rooftop gardens
Improved play facilities
Lifts in the new archway blocks that will also serve existing flats in four storey blocks on Athens and Kincardine gardens
How much will it cost?
Sixteen and a half Million pounds
How will it be funded?
£3.5 million from Westminster City Council
£1m from existing cash reserves
£12 million from bank loans. WECH will borrow this and repay it from the rents that will be charged on the 43 new flats for rent and from its existing homeless scheme. When the loan has been repaid we will be able to let these flats at WECH rents.
Will rents be increased to pay for the scheme?
No. The financing of the scheme comes from the income generated from the rents charged and the grant from Westminster City Council.