Housing Creative London was conceived by Paul Karakusevic in 2015 to provide low cost accommodation at scale for London’s creative communities and works with expert partners to develop and manage 1000’s of well‑designed homes and generous live‑work space in and around the city fringe and on brownfield sites across Greater London.
The creative industries generate £35 billion for the London economy per annum and enables the city to lay claim to its pre‑eminent status as one of the most dynamic and creative places in the world. This status is however, under severe threat due to the high cost of living with many people being priced out. We need to do something urgently to stop this.
Housing Creative London aims to address this by introducing affordable rent options in perpetuity, but crucially in areas of the city that will benefit from the catalytic effect of creatives to unlock challenging sites, animate neighbourhoods, shape places and accelerate housing delivery.
No one in the world has developed dedicated programmes to build affordable housing for artists, creatives, designers and makers before and the company has been set up specifically to address this urgent need at scale. By using patient long‑term pension funding, it will develop unique forms of housing that incorporate a variety of flexible and hybridised live/work options that can be rented out at a not‑for‑profit level allowing rents to be approximately 50‑70% of the local area.
Working with local authorities to prioritise local residents and workers, and ensuring rents are linked to real wages and not market values, Housing Creative London believes this model will support and nurture the creative sector. Our approach will help unlock challenging sites, promote enterprise and contribute to affordable housing supply.