Four housing associations are set to lock horns in a battle that will see the victor get permission to develop hundreds of new homes on part of a rundown housing estate. L&Q, Hyde Housing, Bouygues/Notting Hill Housing Group and Countryside Properties have all made the shortlist to develop the new homes which will be one of the biggest regeneration projects in Europe.
The current properties were built in the 60s and 70s and the dismal estate is being completely transformed by Southwark Council. Demolition of the estate’s tower blocks began fourteen months ago but the project was stopped when the coalition withdrew the PFI grant. However, the council are determined to go ahead with the regeneration which will provide 4,200 new homes. Whichever social landlord is picked to develop the area, they will be looking for a cheap landlord property insurance quote before any tenant moves in.
The council wants the development to have a range of tenure and ownership options. They want new homes that are both attractive and affordable for local residents and they want properties that will be be suitable for a mixed community including elderly, families and vulnerable people who are all equally important. The council hope to make a final decision in April, and this week local people living on the estate have been given a first glimpse of the designs for the mixed-tenure development, which will include a number of affordable homes for locals who wish to get onto the property ladder.
Councillor Fiona Colley, cabinet member for regeneration, said: “It’s important that the area retains its strong sense of community, so we want to make sure that the final design for the new homes on the site meets local people’s needs and aspirations for the area. We really value people’s feedback and look forward to working with a new partner to take on a high-profile and exciting vision for the future of this part of central London.”