I saw that too on Twitter. Peck's claim to be "building more homes for council rent" seems to be easily refutable if not true. Or does she mean that she is building some homes (but that the total number at council rent will decrease)?
Let me take you through the saga to date on Cressingham Gardens, one of the estates scheduled for "regeneration".
There are 306 homes on the estate. 90 are owned by freeholders and leaseholders, 6 are long-term voids (since 1999) and the other 210 are occupied by tenants with secure council tenancies.
The plan is to demolish, and to rebuild at a higher density, even though the estate is already rated as medium-high density under PTAL ratings. The intention is to build a
minimum of 458 homes on the footprint of the estate, with 23-27 being
NEW "homes for council rent", except that they won't be. Here's what they
will be:
Homes that do not have secure tenancies, but rather have assured tenancies with few of the statutory legal protections that a secure council tenancy has.
Homes that have "council-level" rents, except that where current council rents cover service charges for grounds maintenance and water supply, these charges will now be on top of a rent that's already been quantified as at least 23% higher than is currently being paid.
Homes whose council tax rating will be two bands higher than present.
Now, if we do the maths:
210 current council homes, plus 27 new "social rent" homes = 237 homes, which doesn't sound so bad, except that Lambeth Council have been offering tenants priority moves to elsewhere in the borough, so the volume of "council homes" tenanted when demolition is triggered will be - on current numbers - 178, and more moves will reduce that number. That means that - again, on current numbers - there will be 205 homes for social rent on the rebuilt estate, but there's an added twist. Any council tenant wishing to return to the rebuilt estate is being told that they have to give up their council tenancy and any rights and protections that go with it, and accept an insecure assured tenancy" instead.
The whole "council rent"
schtick is verbal trickery that merely means "at the level of council rent". Now you may be asking "why isn't it council rent?", and it'd be a good question. The reason it isn't "council rent", is because the council is setting up SPVs (Special Purpose Vehicle companies) as subsidiaries, in order to draw in investment to redevelop estates. They can't do this as Lambeth Council because Lambeth Council are confined with regard to investing in housing by the black ink on their Housing Revenue Account - they can only borrow within a centrally-defined "headroom", and Lambeth's headroom is low. The SPVs will - supposedly - allow them to develop homes as a private - but wholly-owned by LBL - company. Unfortunately (for council tenants) private housing companies, housing associations etc can't award secure tenancies. Only local authorities can do that.
Oh, and the rest of the housing to be built on Cressingham? On the council's last set of figures, 60% at local market rent rate, and 25% at local "affordable" rate. Welcome to Lambeth Council = private landlord.