Brick by Brick

About:

Brick By Brick is a development company which was set up by Croydon Council in 2016. It was established to increase the pace and quality of supply of new and affordable homes in Croydon by delivering high-quality new homes across the borough. Brick By Brick is a means to ensure people in Croydon have access to high quality and affordable housing. Their development model, as opposed to the more traditional housebuilder model, means that the full value of the development is kept within the borough for the benefit of borough residents.

Company type

Developer

Connections with new developments: (4)

Connections with buildings: (2)

News Wall: (1)

Buildington
22/02/2021 10:16

Croydon Council’s cabinet has agreed that Brick By Brick will complete projects due to finish by October 2021, and a number of longer-term developments will be marketed for sale.

The council is planning to buy up to 190 homes from Brick By Brick using its Housing Revenue Account, subject to the homes being affordable within the HRA. The council will consider whether to sell the company, with a final decision being made by May 2021.

The council will put the College Green site next to Fairfield Halls on the market. This received planning permission in April 2020 for more than 420 homes, shops and community facilities.

Many sites will now not be developed by Brick By Brick, and the council will decide what to do with each site based on the best option for local taxpayers. This will be either by the council developing the sites itself using money from the Housing Revenue Account (HRA), selling to other developers or keeping the sites.

The cabinet decision comes after an external strategic review commissioned last autumn, where consultants PwC examined Brick By Brick’s finances, governance and future developments.

Councillor Hamida Ali, leader of the council commented: “The council’s top priority is having robust, sustainable finances, and a key part of this is resolving the future of Brick By Brick and its development projects so they bring maximum benefit and minimum risk to local taxpayers.

“Our focus now is to make sure that those sites currently underway are completed by this autumn so Brick By Brick pays money owed to the council and more local people on our housing waiting list can get a much-needed home.

“We also have plans to buy up to 190 homes from Brick By Brick using some of our dedicated housing budget – this is important because it would mean even more local residents can access genuinely affordable homes. Cabinet will decide by May on both the future of Brick By Brick itself and what happens to the longer-term sites.”