Appointments to the London Development Panel (LDP) were announced late last month. The LDP is a developer procurement panel established by the Greater London Authority (GLA) to accelerate the delivery of housing in London. The LDP forms part of the Mayor’s wider housing policy and both local and central governments are championing the cause to build more homes in London.
It is anticipated that the LDP will largely follow the format of the Public Land Initiative (PLI) which allowed the Government to follow a novel procurement process and provide public land to approved developers on a Delivery Partner Panel (DPP). The Homes and Communities Agency (HCA) has now announced DPP2, which is the next list of panel developers taking forward PLI for the HCA. DPP and DPP2 are nationwide initiatives separated out by region, as opposed to GLA’s panel, which is purely for London.
In addition to the HCA and GLA forming their own panels, Westminster Council (and perhaps other London boroughs in the future) have also formed its own panel as it is well placed (and ultimately responsible) for the delivery of housing in its area.
RPC advised Hadley Mace Limited on the development of Greenwich Square, the largest and most complex project approved under PLI and DPP. In addition to 645 residential units, the development includes a public square, NHS health centre, library, retail and restaurant facilities and a leisure centre. Greenwich Square was also one of the first projects to sign a development agreement under PLI, giving RPC a unique understanding of how PLI is implemented.
In addition to a creative leasing structure and measures to mitigate sales risk, other key objectives of PLI were implemented at Greenwich Square including:
- Mitigating sales risk through affordable housing options;
- Establishing a mechanism for deferred payment of development sites;
- Sharing risk between government and developers; and
- Delivering high quality homes.