Bethan, one of the new residents, was welcomed by Cllr Johnson Situ as she moved into her new Pocket Living home in Varcoe Road.
The Pocket Living development, close to South Bermondsey station, is helping first-time buyers get on the property ladder.
On receiving the keys to her new flat, Bethan, a charity worker who lives and works in Southwark, said “I’m so excited to be moving into my new home and to have my own place! I already lived in Southwark so it’s amazing to be able to put down roots in my local area. I couldn’t have done this without a Pocket Living home.”
There are 57 one-bedroom affordable homes at the Pocket Living development. The eight storey building also includes communal roof terraces, a co-working space, residents’ sun room and commercial premises on the ground floor.
Pocket Living delivers affordable homes for local, first-time buyers on moderate incomes across London. All of the buyers at Varcoe Road already live or work in Southwark and they each own 100 per cent of their new home.
Cllr Johnson Situ, Cabinet Member for Growth, Development and Planning, said “Southwark Council is committed to delivering a wide range of new homes, especially affordable homes, to help tackle the housing crisis and support people who want to get their feet on the property ladder. Projects like this complement and support the council’s own ambitious plans to build 11,000 new council homes across the borough and deliver genuinely affordable homes for local people.”
In total, 20,000 high quality, new homes are due to be built in the Old Kent Road area as part of the regeneration programme. 35 per cent of these (around 7,000) will be affordable homes including 5,000 at social rent.
Since 2015 planning permission has been granted for more than 5,900 new homes including more than 2,100 affordable homes.
Pocket CEO, Marc Vlessing, said “We’re delighted to have completed our first development in Southwark and so quickly too – having broken ground with Cllr Situ just 14 months ago. I’m pleased Cllr Situ was able to meet Bethan, one of our excited, local first time buyers. There are many young people in London like Bethan who will only get on the housing ladder with the help of affordable developments like these. Over 2,000 people in Southwark have registered with Pocket for an affordable home. We hope to continue to work with innovative councils like Southwark to help more local people to own their home.”
Read more about the benefits of regenerating Old Kent Road