Friday, 24 October 2014

East London regen project given green light

East London landlord Poplar Harca and house builder Willmott Dixon have teamed up on a £250 million regeneration scheme that will deliver more than 1,100 new homes.

The Aberfeldy estate in Tower Hamlets, situated two miles from the Olympic Stadium, will be developed over six phases, spanning 12 years.

The council has granted outline planning consent for the £40 million first phase of the project, which will involve the building of 342 new homes on a mixed-tenure basis.

Over all six phases there will be 266 homes available for affordable rent, 67 for shared ownership, with the remaining 843 homes to be private sale units.

Upon completion in 2024, the development is expected to bring 300 new jobs to the area.

Steve Stride, chief executive of Poplar Harca, said: ‘Tower Hamlets Council and London Thames Gateway Development Corporation have given the green light to a transformational regeneration programme that will enhance thousands of residents’ lives, and significantly improve the infrastructure and amenities of the Aberfeldy area,’

The project is the largest yet undertaken by Willmott Dixon’s development arm Regen.

‘The shows that RPs like Poplar Harca want to utilise our development know-how to make their vision for a new era of housing for hundreds of families a reality,’ said Andrew Telfer, chief executive of Regen.

‘Along with that, the imminent Olympics and the fantastic infrastructure around the games have really focused attention on the great housing opportunities in Poplar.’

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