Construction has begun of 477 affordable homes, provided by private investment, on two vacant plots in Barking and Dagenham.
The homes are a mixture of three- and four-bedroomed houses and one- and two-bedroomed flats that will be available at a range of sub-market rates, from 50 per cent to 80 per cent of local private-sector rental levels.
They are being delivered for the London Borough of Barking & Dagenham through an innovative partnership with Laing O’Rourke investment arm Explore Investment and asset developer Long Harbour.
The partnership will see the properties funded privately but managed by the council until they revert fully to the authority in 60 years time.
Jerram Falkus is constructing the 276-home Thames View development, which saw a ground-cutting ceremony last month. It said piling work at the site had now been completed and groundworks and concrete works commenced.
Elsewhere on the site, which is scheduled to see its first tenants arrive in December next year, work has been completed on the communal energy centre building, which will house hot water boilers for the development.
Barking housing lead councillor Phil Walker said the authority would detail how the sub-market-rate properties would be allocated later in the year. “It will be a slightly different approach, which we hope will help some of the people who have been worst affected by the housing shortage,” he said.
Darren Henaghan, the council’s corporate director of housing and environment, said the new homes would benefit the whole borough, not only those families who were allowed to move into them. “There will also be a positive knock-on effect because it will reduce the demand on our council housing and the private rental sector,” he said.
Meanwhile, the project's sister development - the 201-home William Street Quarter - saw Laing O’Rourke start on site in July, with the site hoardings going up and the groundworks kicking off.
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