Two housing associations have been named preferred bidders for a 330 affordable home regeneration scheme of a former industrial estate in London.
A consortium led by Catalyst Housing and Swan Housing Association agreed a deal with the Greater London Authority (GLA) to transform the Webbs Industrial Estate in Walthamstow into a neighbourhood with 330 new affordable shared ownership homes, along with creative workspace, artist studios, a small park, and retail space.
Catalyst and Swan have also partnered with C.F. Møller Architects and demolition work to clear the site is starting later this year.
The Mayor of London, Sadiq Khan, said: “I’m working hard to identify more brownfield sites across London that we can use to build the thousands of genuinely affordable homes London so desperately needs. This site in Walthamstow shows the benefit of City Hall taking a greater role unlocking and bringing forward land for development – working closely with housing associations like Catalyst to deliver a scheme that is 100 per cent affordable for Londoners struggling to buy a home.”
Tom Titherington, executive director of property and growth, Catalyst, said: “Catalyst’s financial strength and development record, coupled with Swan’s local market knowledge and construction management expertise offers a comprehensive approach to place-making, design and delivery.”
Geoff Pearce, executive director of regeneration and development, Swan, said: “Swan is committed to delivering more homes and this 100% affordable scheme, which will transform a long derelict site, whilst delivering enhanced public spaces and creative workspaces, is another example of how working together with our partners (including the Mayor of London, with whom we are already delivering schemes such as Blackwall Reach), we really can deliver more.”
The site, which had stood derelict for seven years, was purchased by the GLA in July 2016 with the intention to find a development partner. According to the GLA, previous developers of the site had been granted outline planning consent with just three per cent affordable housing, but the sale agreed with Catalyst and Swan means all new homes will be affordable.
All additional profits from the project will be reinvested in more affordable homes.