£250m regeneration to deliver over 1,000 new homes
Published by Max Salsbury for 24dash.com in Housing and also in Development
A £250 million regeneration scheme will deliver 1,176 new homes in East London over the next 12 years.
The planned Aberfeldy Village in Tower Hamlets will involve the complete transformation of the former Aberfeldy estate and will see homes for all tenures created, including a substantial number built specifically for private renters.
The village, which was granted planning permission last year, represents the biggest ever investment in this part of London and is part of the wider Olympic Legacy regeneration plan.
Andrew Telfer, divisional chief executive at Willmott Dixon, the developer which will be responsible for the private rent element of the scheme, said: “Aberfeldy Village is an exciting and pivotal scheme for both Wilmot Dixon and the London housing market. Our new homes, which will attract a whole new generation to Poplar, will be the catalyst for further investment across the area, making it a very appealing place to live."
The project will sustain over 1,000 construction jobs and is anticipated to provide 300 new jobs in the area once completed.
The first phase of homes, consisting of one-bed suites and one and two-bed apartments, will be released off plan in the UK in October 2013.
The entire first phase will provide a total of 338 new homes (105 for private sale, 158 for the private rental sector, and 75 affordable homes) as well as three new commercial premises.