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Housing association to start on new social housing as part of £1.5 billion Elephant & Castle regeneration

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Housing association to start on new social housing as part of £1.5 billion Elephant & Castle regeneration

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Published by Jon Land for 24dash.com in Housing and also in Local Government

Housing association to start on new social housing as part of 1.5 billion Elephant & Castle regeneration Housing association to start on new social housing as part of 1.5 billion Elephant & Castle regeneration

Construction work will soon be starting on Guinness South’s major new development at Stead Street in the London Borough of Southwark, forming part of the £1.5 billion regeneration of Elephant and Castle.

The housing association has entered into contract with the developer Hills Residential for the design and construction of 140 new homes, 84 of which will be let at social rents to local people, including 28 family homes.

The scheme will also include 56 homes for private sale which will help fund the affordable homes. A new community centre and a retail unit will also be provided.

Head of Development Stephen Olujide said: “We were able to secure additional grants from the Greater London Authority and Southwark Council so rent levels for the new homes will be genuinely affordable for eligible residents moving from the nearby Heygate and Aylesbury estates.”

Stephen added: “The majority of the homes are dual aspect and face towards the park with living spaces opening out onto generous balconies, rooftop terraces or the communal courtyards. The scheme will also incorporate a number of sustainable measures including a central, gas-fired, combined heat and power plant and thermal stores, photovoltaic panels, extensive green roofs and a heavily insulated structure of the building which should help to keep the heat in.”

Cllr Fiona Colley, Southwark Council’s cabinet member for regeneration, said: “I am delighted to see work starting on the creation of 84 new social rented homes and a new community centre.

This development is part of the council’s Heygate replacement housing programme which is delivering 418 new social rented homes in the Elephant and Castle area.

"Combined with the many other new housing developments which have completed, are under construction or have planning consent, the Elephant and Castle regeneration programme is now on track to deliver at least 1,715 new affordable homes.”

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