In 2016 Croydon Council established Brick by Brick (BXB) to accelerate delivery of much needed new homes, both private and affordable to buy and rent, for Croydon residents. Brick by Brick (BXB) is now a multi-award winning development company working on around 2000 beautifully designed new homes on multiple sites throughout the borough.
The BXB model is designed to maximise the return from development activity to local residents, while also addressing housing need. All of our profits are returned to the council as sole shareholder to be reinvested into things which benefit the borough.
How the BXB model works?
We purchase land from the council and others and then develop it with new multi-tenure housing, community facilities and other improvements. Any profit realised by this process creates dividend which is returned to the council (as sole shareholder).
Initially, the council also provides development finance to BXB at market rates. The interest paid by BXB provides an additional revenue source to the council.
Overall we aim to deliver 50% affordable homes across our residential programme. All BXB units are available solely to Croydon residents for a set period of time, before offering them more widely.
So far planning has been granted for over 30 sites around the borough. The sites tend to be old garage sites, car parks, vacant buildings or infill sites on estates.
The small BXB team is made up of experts in development, design and finance, and we are deeply committed to delivering high quality, innovative design on all of our schemes.
What’s in store for 2018?
BXB will be delivering a large number of schemes on site in 2018. The hoardings are up on many sites across the borough including Marston Way in Upper Norwood, Regina Road in South Norwood, Northbrook Road in Selhurst and the College Green scheme in central Croydon.
As demolition and construction begins on the first phase the second phase of planning applications will continue alongside the ongoing search for new sites. As part of the commitment to ‘use local first’ BxB is committed to working with local contractors and sub-contractors and promoting the employment of local people through Croydon Works.
From start to finish residents will be part of all conversations through online engagement, on site consultations, resident meetings and one to one sessions where necessary. As part of our commitment to deliver much needed new and affordable homes for Croydon residents, we are delighted to announce that for a set period of time all BXB developments will be sold exclusively to those who live in the borough. Once this time has come to an end, each home will go on sale more widely.
So far planning has been granted for more than 30 sites across the borough. Our sites are tend to start life as old garages, car parks, vacant buildings or infill sites on estates. We are deeply committed to quality, and each home is properly designed inside and out. We want to create a community and a place where people will be proud to live.
We will be releasing more information very soon but in the meantime, please register your interest with us via our home page.