Greenwich Council has invested £343 million in capital projects during the 2024/25 financial year, with a significant focus on housing-related schemes, according to a report. This represents an increase from the £318 million invested in 2023/24, primarily driven by the expansion of housing initiatives.
Of the total investment, 73% was allocated to housing, demonstrating the council's commitment to addressing housing needs within the borough. The Capital Outturn Report detailed the breakdown of this investment.
The report highlighted that £131 million was spent on the delivery of new homes through the Greenwich Builds Programme. This figure includes £105 million allocated to the construction of new homes and £26 million for the acquisition of new properties. Additionally, £97 million was invested in existing council homes, and £17 million was used to acquire properties to meet temporary accommodation, rough sleeping, and refugee pressures.
Other key areas of investment included:
- £42 million in the leisure facility-led town centre regeneration scheme, which includes progress on the construction of the new Woolwich Leisure Centre.
- £12 million in high streets, highways, streets, and the public realm.
- £16 million to create new education and learning facilities and improve existing schools.
- £1 million towards the council's carbon neutral target.
