Wednesday, March 21, 2018

City of London, England Ready to Open Modular Home Factory

A collaboration between around 16 London boroughs is set to establish a factory to deliver modular housing for use as temporary accommodation.

The company will be used as a not-for-profit vehicle to procure and own factory-built homes, which councils can let as cheaper alternatives to B&Bs or other emergency housing for homeless families.

The units could be moved between sites across the capital where possible and necessary.

London mayor Sadiq Khan has agreed in principle to award the councils £11m in grant from the Greater London Authority’s Innovation Fund.

Umbrella group London Councils, which lobbies the government on behalf of all 33 boroughs, has put forward £20,000 in ‘seed funding’ from its Capital Ambition program.

Member councils would provide loans to the company, or it would be able to take on private debt independently.

Any surpluses generated would be reinvested back into expanding the project.

There were 54,660 households in temporary accommodation in London at the end of September 2017.

Chicago, IL wants to build factories to supply 20,000 homes on the former US Steel property but instead of doing it themselves like London is planning, they are working with foreign companies to design and build the houses and have the Chinese government finance them.

Time will tell which way is better. I’m hoping it’s London's.

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