Enfield Council has been awarded £166.6m by the Mayor of London to build 1,120 new homes in the borough.
The new homes will be delivered over a four-year period from March 2023 to March 2027.
The funding is the second highest grant in the capital (and fifth overall in the top five boroughs for funding), after ambitious plans to deliver a new generation of council homes was announced.
The huge vote of confidence from Sadiq Khan will be used to build brand new council homes at council rents.
The allocation includes funding to support delivery of the first four phases of the Joyce and Snell’s regeneration scheme in Upper Edmonton (which is subject to a Cabinet decision this month).
Around 120 new homes will be supplied through the Morden Methods of Construction (MMC) Buyer’s Club, a partnership with the London boroughs of Barking, Waltham Forest, Haringey and Newham.
Approximately 28 homes across two small sites will be designed and constructed by small-to-medium sized businesses.
The funding is from the first round of the new Affordable Homes Programme, with boroughs, housing associations and not-for-profits in the capital sharing a total pot of £4bn. A total of 79,000 homes will start to be built across the capital during the next five years.
The terms and conditions of the funding come with stringent safety and design requirements, and developments of 10 or more homes must be net zero carbon.
Cllr Nesil Caliskan, Leader of Enfield Council, said: “We were delighted to receive the news from the Mayor of London, that Enfield has been awarded generous and vital funding to build more and much needed council homes in the borough.
“I look forward to seeing the house building programme begin and the difference good quality housing will make to the lives of Enfield people.”