One Blackfriars - Planning Statement FINAL VERSION - Southwark ...

CBRE | ST GEORGE SOUTH LONDON LTD8.0 Planning Policy Assessment Where either an off-site or in lieu contribution is allowed, at least as muchaffordable housing must be provided as would have been provided if theminimum 35% affordable housing policy requirement were achieved on-site.8.105 The proposed approach to affordable housing in relation to the New Application isassessed below.On Site Provision8.106 The Affordable Housing Statement and Toolkit submitted in support of thisapplication demonstrate that it is not practical or financially viable to provideaffordable housing on the Site.Shared Ownership8.107 The inclusion of shared ownership housing on-site is not viable due to the likely levelof income required to purchase Shared Ownership properties being significantlyabove the maximum level specified in LB Southwark’s draft SPD (even allowing foran additional 10% uplift in maximum incomes) due to high local property prices.Social Rent8.108 The provision of social rent homes within the Tower would significantly affect thefinancial viability of the Proposed Development – it would require the provision of aseparate access core and entrance which would reduce the overall level ofresidential floorspace within the proposed development.8.109 The provision of social rent homes within the Tower would also impact upon theoverall achievable residential values reducing the level of funding available towardsaffordable housing provision.8.110 The provision of social rent homes within the Tower would not meet the priorityhousing needs of the Borough – to deliver a higher proportion of social rentedhomes in new development.8.111 Affordable homes (both shared ownership and social rent) would be unable to bearthe level of service charge required for this type of development.Page 38PLANNING POLICY ASSESSMENTAlternative Design Solutions Considered8.112 The Applicant commissioned the architects to produce plans assessing the impact ofincluding affordable housing with the Rennie Street building. Savills and CBREsubsequently assessed viability and planning implications of doing so.8.113 Providing 29 affordable homes (the equivalent to just under 10% of the total homes)within the Rennie Street building would reduce the size of the proposed new hotel to70 bedrooms thereby impacting upon the quality and viability of the offer. Inaddition, the reduction in hotel size and quality would result in a reduction ofapproximately 95 gross operational jobs. CBRE Hotels consider that the reduction ofthe hotel offer by such a level would seriously threaten its viability and deliverability.8.114 The option of providing affordable housing in the Podium Building was alsoconsidered. However, this was discounted as complex reworking would be requiredwhich would result in substandard accommodation including poor outlook andsunlight/daylight levels to the proposed development.