Regeneration news
Good Growth Fund: innovative and transformative projects to be supported through new landmark programme
The Royal Docks is one of London’s most unique locations, home to a diverse range of people and businesses, and an area with the potential to become globally admired for its approach to urban renewal.
To ensure that the Royal Docks can reach this ambition, particularly during these difficult and unprecedented times, the Mayor of London, and Mayor of Newham, Rokhsana Fiaz, have launched the Royal Docks Good Growth Fund. Modelled on the Mayor of London’s successful Good Growth Fund, the Royal Docks Good Growth Fund is designed to support transformative and innovative projects in the Royal Docks, whilst at the same time delivering on London Borough of Newham's priority to embed wealth within the local community
This part of London has a huge pool of creative talent – this, combined with local people’s enthusiasm and range of expertise, means I have no doubt we can deliver many innovative projects to regenerate the Royal Docks for the benefit of local people and London as a whole.
Mayor of London, Sadiq Khan
The Royal Docks is a flourishing business location. Over the last two years, the Royal Docks has seen a number of new and revamped work and creative spaces open, for example Expressway London at Royal Victoria Dock. The area has also benefitted from improved public spaces, including the northern dock edge and Royal Victoria Gardens. The latter now a hive of activity, full of locals and visitors during spring and summer months.
The Royal Docks Good Growth Fund will build on these successes by supporting projects that give Londoners the opportunity to actively participate in their local community and civic life; improve existing public spaces for the benefit Londoners’ health and wellbeing; and create new jobs and workspaces.
The £13 million fund is open to public, private and third-sector organisations including local groups and charities that work closely with the local community. It will cover up to 50 per cent of the total project value, with the remainder covered by the applicant.
Launching the programme, Mayor of London, Sadiq Khan said: I am delighted to launch this fund in partnership with the London Borough of Newham and use the principle of good growth to drive the transformation of a part of the capital with enormous economic and social potential.
Sadiq Khan is encouraging public, private and third-sector organisations including local groups and charities that work closely with the local community to put forward their ideas. The fund will be an important catalyst to offset the economic challenges people and businesses will face in Newham and across London.
The fund is now open for applications. For more information and to view the fund’s prospectus please visit the Royal Docks Good Growth Fund page.
The Royal Docks Good Growth Fund was launched in partnership with Newham, as part of the borough’s Covid-19 Recovery Strategy.
The Royal Docks Good Growth Fund is the first of a broad range of programmes and initiatives that the Royal Docks Team will undertake to ensure that the area’s economy is both fair and inclusive. Find out more on our dedicated Royal Docks economy page.
