Richmond Borough Targets 5,500 Homes, 20% Job Growth by 2036 2026

Key Points

• Richmond Council has approved its draft growth plan targeting at least 5,500 new homes, a 20 per cent increase in jobs, and a 10 per cent rise in trading businesses by 2036.
• The plan provides a framework to attract more investment, workers, and visitors over the next decade through new homes, workspaces, infrastructure, improved career progression, higher earnings, and enhanced sustainability.
• The council’s finance committee approved the draft on Thursday, February 12, 2026, with finalisation by officers before a launch later this year.
• Housing goals align with the new Local Plan adopted in October 2025, including 500 affordable homes, working with developers to unlock sites and maximise funding for a sustainable pipeline.
• Currently, 2,527 households are on the council’s waiting list, with 761 families in temporary accommodation.
• Economic targets include a 20 per cent increase in jobs, 10 per cent more trading businesses, 20 per cent higher earnings for the lowest paid, unemployment reduced to pre-pandemic levels, economic activity rate above 80 per cent, and high-growth businesses (employing 10 or more) rising from 5.5 per cent to 7 per cent.
• A new council officers’ report highlights challenges from business headwinds, technological changes, and AI deployment but sees these as guiding actions for economic wellbeing.
• Lib Dem councillor Phil Giesler, business and growth lead member, described the borough’s strong foundation as the second-fastest growing in London over 25 years, with ambition to grow further and faster.
• A “growth coalition” will oversee delivery up to 2036.

Richmond upon Thames (South London News) February 16, 2026 – Richmond Council has approved an ambitious draft growth plan to deliver at least 5,500 new homes, 20 per cent more jobs, and 10 per cent more businesses by 2036, setting a bold framework for economic and residential expansion. The finance committee greenlit the document on Thursday, February 12, 2026, marking a significant step towards attracting investment, workers, and visitors while addressing housing shortages and boosting prosperity. This initiative aligns with the borough’s recently adopted Local Plan and responds to pressing local needs, including a waiting list of 2,527 households.

What Is the Richmond Growth Plan?

The draft growth plan outlines comprehensive targets for the next decade, focusing on housing, employment, and business development. It commits to meeting or exceeding the Local Plan’s goal of 5,500 new homes, including 500 affordable units, by partnering with developers to identify sites and secure funding. As reported in the council’s official announcement, the authority aims to establish a “sustainable pipeline of new homes” amid current pressures, with 2,527 households on the waiting list this month and 761 families in temporary accommodation.

Economically, the plan targets a 20 per cent jobs increase, 10 per cent growth in trading businesses, and 20 per cent higher earnings for the lowest paid.

It also seeks to reduce unemployment to pre-pandemic levels, lift the economic activity rate consistently above 80 per cent, and elevate high-growth businesses (those employing 10 or more people) from 5.5 per cent to 7 per cent. These ambitions come as the council navigates post-pandemic recovery and technological shifts.

Why Was the Plan Approved Now?

The finance committee’s approval on February 12, 2026, followed detailed officer recommendations emphasising the plan’s role in maximising economic wellbeing. A new report by council officers stated:

“Given the headwinds faced by businesses and employers in recent years along with the impacts of technological change, particularly the likely deployment of Artificial Intelligence at scale, these are challenging targets but ones which can guide action and seek to maximise economic wellbeing for the borough.”

Lib Dem councillor Phil Giesler, the business and growth lead member, addressed the committee directly, saying:

“I think this is a really important statement of ambition for Richmond as a borough and a vital move forward in terms of our overall search for growth.”

He added:

“I want to make the note that, of course, we are already a successful borough in terms of our growth record. We have a good track record over the last 25 years, we’re the second-fastest growing borough in London, so not to be ashamed of, but we think we can do more.”

Councillor Giesler highlighted the borough’s

“good foundation but we can grow much further and much faster.”

How Will New Homes Be Delivered?

Central to the plan is housing delivery, tied to the Local Plan adopted in October 2025. The council intends to collaborate with developers to

“identify and unlock sites for new housing and maximise funding.”

This addresses acute demand, as evidenced by the 2,527 households awaiting council housing and 761 families in temporary accommodation recorded this month.

The 5,500-home target includes 500 affordable units, reflecting efforts to balance growth with accessibility. Officers’ reports stress a sustainable approach, ensuring infrastructure supports new developments without straining resources.

What Economic Targets Are Set?

The plan’s economic pillars aim for transformative growth. Jobs are to rise by 20 per cent, trading businesses by 10 per cent, and lowest-paid earnings by 20 per cent over 10 years.

Unemployment will drop to pre-pandemic figures, with economic activity exceeding 80 per cent consistently. High-growth firms should increase from 5.5 per cent to 7 per cent.

These goals respond to recent challenges, including business disruptions and AI’s rise, as noted in the officers’ report:

“Given the headwinds faced by businesses and employers in recent years along with the impacts of technological change, particularly the likely deployment of Artificial Intelligence at scale, these are challenging targets.”

Who Is Leading the Growth Initiative?

Councillor Phil Giesler has emerged as a key advocate. As reported by Richmond Council sources, he told the committee:

“I think this is a really important statement of ambition for Richmond as a borough and a vital move forward in terms of our overall search for growth.”

He underscored past successes:

“We have a good track record over the last 25 years, we’re the second-fastest growing borough in London.”

The council plans a “growth coalition” to monitor progress to 2036, involving stakeholders for coordinated delivery.

When Will the Plan Launch?

Following approval on February 12, 2026, officers will finalise the draft before a launch later this year. This timeline allows refinement while maintaining momentum.

What Challenges Does the Plan Face?

Officers acknowledge formidable obstacles. The report warns of “headwinds faced by businesses and employers in recent years” and technological disruptions, especially

“the likely deployment of Artificial Intelligence at scale.”

Housing delivery hinges on site identification and funding amid high demand.

Councillor Giesler remains optimistic, framing challenges as opportunities: “We have a good foundation but we can grow much further and much faster.”

How Does This Fit with Existing Policies?

The growth plan dovetails with the October 2025 Local Plan, reinforcing its 5,500-home target. It expands on workspaces, infrastructure, career progression, earnings, and sustainability, creating a holistic framework.

What Is Richmond’s Current Growth Record?

As Councillor Giesler noted:

“We are already a successful borough in terms of our growth record. We have a good track record over the last 25 years, we’re the second-fastest growing borough in London.”

This positions Richmond well for accelerated expansion.

Will There Be Public Consultation?

While specifics on consultation remain unstated in available reports, the draft’s finalisation process suggests opportunities for input before the later-this-year launch. The “growth coalition” may incorporate broader stakeholder views.

This plan positions Richmond upon Thames for sustained prosperity, balancing residential needs with economic vitality. By addressing housing shortages and fostering business growth, it seeks to enhance living standards amid evolving challenges.