London mayor gives approval for over 12,600 new homes in Greenwich

Article taken from Property Wire, 23rd November 2015

A revised masterplan on the previously disused gasworks will create an entire new district formed of five neighbourhood zones and 12,678 homes on the 80 hectare site.

Developers Knight Dragon are already in the process of building a further 2,822 homes on the site, which will bring housing delivery on the Greenwich Peninsula to 15,720.

Plans also include 220 serviced apartments, 24,000 square metres of retail use, 60,000 square metres of business use, two new schools and two new hotels. The development will also feature a 40,000 square metre film studio, a visitor attraction and increased green open space including an extension to the existing Central Park.

In August, Greenwich council gave outline planning permission for the site, which runs along the River Thames, and the Mayor Boris Johnson has now also given the masterplan the go-ahead.

The Greenwich Peninsula site is part of the Mayor's ambitious plans to release surplus public land to boost construction jobs, drive investment and deliver the additional housing to meet a growing population.

Of the developable land taken on by the Mayor in 2012 some 99% is now in the development pipeline, while the Greenwich Peninsula is a key element of Johnson's City in the East masterplan, which looks to deliver at least 200,000 homes in east London over the next 20 years.

‘This gigantic site at Greenwich Peninsula has sat dormant for far too long, so I'm pleased that since City Hall took control of this land, we are already beginning to see construction underway. This will not only provide thousands of much-needed new homes for Londoners, but also bring jobs as part of the wider regeneration towards the east of the capital,’ said Johnson.
   
Developers Knight Dragon has 2,882 homes already under construction as part of existing planning permission, of which 1,002 are affordable. The masterplan approved by the Mayor includes 2,928 affordable homes, while a review mechanism has been included in plans, which could deliver an additional 1,572 affordable homes. The affordable housing mix, which will be delivered in all five neighbourhoods in the new district, will be split between social rent and intermediate.

Councillor Danny Thorpe, Royal Borough of Greenwich Council member for regeneration and transport explained that the Council has long held a vision to make the most of the huge potential offered by the Greenwich Peninsula.

‘The approval of this planning application makes it one of the most exciting developments in London, bringing huge long term regeneration benefits to the peninsula and cementing it as a new district for London,’ he said.

‘We are particularly proud that, at a time of critical housing shortage, this development will deliver so many affordable homes, of which more than two thirds will be for social rent, at no more than 50% of market rent. This is an ambitious vision for an extremely exciting site and I look forward to it now finally moving forward, and seeing the delivery of this major new regeneration project to the borough,’ he added.

 

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