Growing Places Fund
The Mayor and the LEAP were allocated £110.7 million by the Department for Communities and Local Government to promote economic growth and the delivery of jobs and houses. Through this revolving fund which was established under the last administration, the LEAP advised the Mayor on how to allocate this funding in three rounds, in March 2012, May 2013 and February 2016.
In London, this Growing Places Fund (GPF) is supporting innovative ways of creating jobs and skills in emerging sectors, supporting growth in business and investment, and increasing productivity. The fund is also supporting major regeneration projects across the capital, supporting the growth of London’s housing market by unlocking land parcels for development and helping to ensure London’s infrastructure needs are delivered to benefit all Londoners.
In March 2018, £60 million has been spent with 11 projects in delivery and 10 completed. So far, 607 jobs have been created, 268 businesses supported, and 951 Londoners supported to progress in further learning or employment.
Hackney Wick station
Working with the London Legacy Development Corporation (LLDC), and as part of Round 2 of the Growing Places Fund, the LEAP provided a capital loan for £8.5m which aided in the successful delivery of the £25m redevelopment of Hackney Wick station.
The project which started in 2017, and has now been completed, radically transforms the accessibility and quality of Hackney Wick station. Through its redevelopment, step-free access has been introduced, journey times to key destinations have been reduced by 10 minutes and the station is now equipped to respond to the increase in passenger numbers due to the Queen Elizabeth Park for work, home and visitors; particularly iCity Fish Island and East Wick.