New London growth fund for citizen-led regeneration

A new £70m growth fund has been launched in London, aiming to ‘challenge preconceptions about regeneration’.

Speaking at the launch of the Good Growth Fund this week, the deputy mayor for planning, regeneration and skills, Jules Pipe said the four-year programme, which will be delivered through the London Economic Action Partnership (Leap), will support ideas to ‘address equality, inclusion and citizen-led regeneration’.

‘Through the Good Growth Fund, we want to challenge preconceptions about regeneration here in London,’ said Mr Pipe.

‘Regeneration should be something that

is done with Londoners, not done to them’.

‘We want to push for actions that will be subtle and be bold. It’s vitally important that regeneration is something that more Londoners should feel a part of, and not excluded from. It should be something that is done with them, not done to them.

‘I’m convinced that with the ingenuity of this city and people’s enthusiasm and expertise, we can build a really high-quality programme of engaging, exemplary and innovative projects,’ he added.

‘In return, we will be providing £70m in capital funding, including the local growth fund and the European Social Fund. We will also be providing expert regeneration advice, design support and knowledge sharing opportunities for everyone,’ said the deputy mayor.

The Good Growth Fund is open to public, private and third-sector organisations including London boroughs, community groups and charities that drive regeneration in their local area.

It will support up to 50 per cent of the total project value, with the remainder covered by match funding from the applicant.

The Greater London Authority’s assistant director of regeneration, Debbie Jackson, said the aim of the fund is to ‘deliver high quality and targeted regeneration programmes with a range of partners to maximise cultural, economic and environmental benefits’.

She added the fund is based on three interconnected themes – empowering people, making better places and growing prosperity.

One of the board members from Leap, Dr Celia Caulcott, commented: ‘We are delighted to be working alongside the mayor to invest in regenerating spaces and make them better for all Londoners.

‘Ensuring more first-class environments that reflect the realities of living and working in the city will help Londoners of all ages and backgrounds to feel they are part of their local communities, as well as improving their health and wellbeing.’ 

The fund will also help deliver the objective of good growth outlined the London mayor’s A City For All Londoners report, which sets out Sadiq Khan’s plans to create a better city for all.

Since he was elected in 2016, the mayor has funded several regeneration schemes, including the Thamesmead and Abbey Wood Incubator Campus, which received £1m from the mayor’s London Regeneration Fund.

The campus will deliver affordable workspace and facilities that support the wider community as part of the plans to build new homes and rejuvenate Thamesmead.

‘I am calling on boroughs, community leaders, business organisations and the huge pool of London’s creative talent to bring forward their ideas,’ said Mr Khan.

‘Using the ingenuity of this city, people’s enthusiasm and our wealth of expertise, I have no doubt that together we can deliver many engaging, exemplary and innovative projects.’

Photo by szeke