London mayor Boris Johnson has today announced total investment following last year’s London riots will reach £177M following an additional £57M pledged from private and public partners.
Johnson has pledged funds to capital-wide regeneration projects after riots in eight London boroughs last August causing major damage. Johnson is using £70M from the Regeneration Fund, £50M from the Outer London Fund, and now an additional £57M from match funding from public and private partners to bring total funding up to £177M.
Projects currently receiving funding include a £10.6M package to improve Peckham Rye Station and town centre, £7.3M to regenerate Southall High Street and a £5.3M project to create a fashion hub in Hackney.
Funding agreements are expected to be signed in April and projects run until March 2014.