In June, the council's Cabinet Members voted unanimously to make the purchase, which forms one-quarter of the council’s commitment to deliver 1,000 new affordable homes by 2026. Most of the new homes will be made available for rent starting in October 2023 with the remainder following in January 2024.
The properties are part of the latest phase of the Colindale Gardens development and will offer 42 three-bed family homes and 40 that are wheelchair adaptable. The stock will also include studios, one and two-bedroom properties.
Barnet Council will acquire the 249 homes through its Housing Revenue Account. The properties and communal areas will be managed by Barnet Homes, adding to its social housing portfolio of 13,000 properties across the borough.
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Cllr Ross Houston, Deputy Council Leader and Cabinet Member for Homes & Regeneration, welcomed the announcement: "As a council, we care for our people and that means providing high quality, affordable housing. We have seized this unique opportunity to take a big step forward in our commitment to deliver 1,000 council homes by 2026.
"It represents really good value for money and will make considerable savings on temporary accommodation costs the moment new tenants are able to move in this year.
"Delivering the right homes to meet diverse needs now and for future generations, that people can afford and are in the right places, is a key priority and challenge for the council. We are London’s second largest borough by population but have the sixth lowest stock of social housing. Many of our residents are deeply affected by the acute housing shortage and sky-high rents, so providing more genuinely affordable housing will help those at the sharp end of the cost-of-living crisis."
Paul Muldowney, Managing Director of Redrow London Division, commented: "At Redrow, our commitment to the local community and creating great places to live serves as the driving force behind our collaboration with Barnet Council. We believe that everyone should have access to secure, comfortable, and affordable housing, with this partnership marking a step towards making this vision into a tangible reality.
"We're proud that Colindale Gardens offers high specification apartments surrounded by open green space yet close to excellent amenities and travel links to enjoy the best of the city. In providing 249 new homes for affordable rent, we look forward to seeing our homes become vibrant spaces which seek to provide not just housing, but the foundation for a thriving community."
