London regeneration site to get 10,000 new homes, with up to half affordable
The Mayor of London has approved the building of up to 10,000 new homes in Barking, of which up to 50% could be affordable, as part of a masterplan for the single largest regeneration site in the capital.
Sadiq Khan gave his consent the development at Barking Riverside, a 180 hectare brownfield site on the northern banks of the River Thames, which will include affordable homes to rent and for first time buyers.
Until now affordable home percentages have been lower but the recently elected Mayor wants more lower costs homes to be built and has agreed a scheme that includes a minimum of 35% affordable from the outset, with provisions to raise this to 50% over time through additional investment and viability reviews.
‘Barking Riverside has enormous potential to deliver thousands of the much-needed homes Londoners so urgently need. I’ve made it clear that tackling London’s housing crisis is my number one priority. Fixing this problem will be a marathon, not a sprint, but developments like this one will play a huge part in our efforts to provide genuinely affordable homes to buy and rent,’ said Khan.
‘Our next task is to ensure this development includes the facilities and infrastructure which will make this a fantastic place to live and to visit, rather than simply a housing development,’ he added.
The leader of Barking and Dagenham Council, councillor Darren Rodwell, said that the development is a key part of the regeneration jigsaw, not just for Barking and Dagenham but for London as a whole.
‘It will undoubtedly make an enormous contribution to solving part of the capital’s housing crisis and we are determined to create an attractive and prosperous new community there. This borough has a very exciting and ambitious growth programme, which includes the delivery of over 45,000 new homes and 10,000 new jobs over the next 10 years,’ he added.
According to David Montague, chief executive of London & Quadrant, it is one of the largest and most ambitious regeneration schemes in Europe, and the firm is committed to delivering homes, across a range of incomes, that are genuinely affordable for everyone.
‘The potential of Barking Riverside is enormous and for L&Q it is a significant step forward in delivering on its promise to build 100,000 homes over the next decade,’ he added.
The site is owned by Barking Riverside Ltd, a joint venture between the Greater London Authority (GLA) and the housing association L&Q. Until the 1990s it was home to three power stations and a large amount of landfill.
As of July 2016 some 734 new homes have been built within stage One of the earlier masterplan for the site, with a further 414 new homes under construction for completion by summer 2017.
The new masterplan approved by the Mayor will pave the way for an additional 9,652 homes and other facilities, including a new train station and transport interchange. The area will be served by a £263 million extension to the existing Gospel Oak to Barking London Overground line.
The scheme also includes scope for shops, restaurants, community and leisure facilities, public squares, healthcare and schools alongside a new transport interchange which will connect the area to central London by rail, bus and river.
The Mayor believes Barking Riverside could become a vibrant waterfront attraction, provided crucial retail and leisure elements are included in a wider waterfront masterplan that integrates the development with the rest of the city.
