Achilles' residents vote in favour of estate regeneration
After months of work, the ballot result came through today with 73% of residents voting 'YES' on a 92% turnout, which is huge. What they voted for is a new scheme where they will get a guaranteed new home at the same rents as now. Leaseholders will get a 10% on top compensation rate of the purchase price and to invest their equity into a new home onsite and pay no rent. People living in temporary accommodation on the site will get a new lifetime tenancy in a new home onsite.
I know the residents who do not want to move will be unhappy. The Council will make sure they all get the best. One bit of other good news is that the TRA is reforming and will use the refurbished Fenton House room.
We will now start the process of working with a residents steering group on the design of the estate. Information will be posted on our web pages for the scheme here.
Finally, this is a Lewisham Council scheme for our existing residents and to provide new social housing for between 100 to 150 new households once the scheme is delivered.