Apex Airspace was handed £9m from Homes England earlier this month
Mayor of London Sadiq Khan has followed Homes England’s lead and announced the London Assembly will provide Apex Airspace with a £10m development loan.
It is the first time Khan has supported an airspace developer.
Apex said the funding, which has been granted through the Mayor’s Innovation Fund for affordable housing projects, would allow it to forge a wider range of partnerships with London’s councils, housing associations and private market freeholders.
Arshad Bhatti, founder and chief executive of the firm, said: “This announcement is testament to City Hall taking an innovative approach to building more affordable homes.”
Apex, which uses modern methods of construction to bring homes to site 95% complete, has already developed a number of partnerships with housing associations and councils in the capital.
It has previously worked with Lambeth & Southwark Housing Association to develop a scheme in Bermondsey (pictured), which is made up of 31 affordable apartments.
Last month, Homes England agreed a £9m funding deal with Apex to support building rooftop properties at five sites across London.
The first of the homes will be completed by the summer, while a total of 78 rooftop homes will be built under the three-year deal.
The five sites in the capital are in Tooting, Wanstead, Walthamstow, Putney and Wallington.
Homes delivered in these five schemes will be priced within the Help to Buy threshold to help support more people into home ownership.