L&Q to develop 235 new homes in Elephant and Castle
Property group Lend Lease has appointed L&Q housing association as its partner to develop 235 homes on the regenerated Heygate Estate in London's Elephant and Castle.
The residential scheme will feature a selection of new homes ranging from studios to four-bedroom apartments arranged over seven buildings ranging in height from four to ten storeys.
Scheduled for completion in summer 2015, the homes will be the first completed residential units as part of Lend Lease's £1.5bn regeneration plans.
L&Q will provide a total of 54 affordable homes, backed by £780,000 from the Mayor of London, Boris Johnson.
This will include 28 available for shared ownership and 26 for affordable rent. Ten of the homes will also be designed to be wheelchair accessible.
Richard Blakeway, deputy mayor for housing, land and property, said: "The Mayor is determined to increase the number of homes being built for working Londoners, while boosting the capital's economy. Developments like Trafalgar Place show just how successful this can be in delivering good quality and affordable new homes, as well as creating jobs and breathing new life into the key opportunity area of Elephant and Castle in the heart of London."
Over the next 15 years, the Heygate regeneration will provide approximately 3,000 new homes as well as shops, restaurants, community facilities and landscaped areas.
Pascal Mittermaier, Lend Lease's project director, said: "The regeneration of Elephant & Castle is now gathering momentum both in terms of the progress on site and the sale of new homes. I am excited to be able to confirm today that we will also be working with a partner of L&Q's standing in the sector.
"Elephant & Castle is now on its way to becoming one of the most well-connected and desirable places to live in London. In the process, we will regenerate a key part of the capital, create desperately needed new homes and also generate more than 5,000 new jobs. This project exemplifies the benefits which sustainable urban regeneration can deliver for local communities and the cities in which they live."
Jerome Geoghegan, L&Q's group director for development and sales, commented: "Trafalgar Place continues L&Q's long-standing commitment and investment in Southwark where we currently have more than 3,000 homes either in management or under construction. We are delighted to be part of the long-awaited redevelopment of the Heygate Estate. With Lend Lease and Southwark Council, L&Q will create a variety of well-designed homes for people on a range of incomes."