Thamesmead housing project advances
PUBLISHED: 13:14 21 February 2019 | UPDATED: 13:14 21 February 2019
Plans for 11,500 homes along the Thames, including Thamesmead have moved another step forward.
It is one of the largest regeneration projects in Europe, and includes extending the Docklands Light Railway.
London’s oldest housing charity, Peabody, has selected Lendlease as preferred bidder for the £8bn, 11,500 home, Thamesmead Waterfront.
Once contracts are finalised, Lendlease will work with Peabody in a corporate joint venture to masterplan and deliver the mammoth scheme over the next 30 years releasing final details next summer.
They said presently, the 250-acre site is undeveloped and under-populated.
Already in place is 2.5km of undeveloped river frontage, with an abundance of green space, open grassed and wooded areas, canals, two major lakes and an existing town centre.
Peabody said the plans would see a new waterfront district of 11,500 new homes, focussed around a proposed new DLR station in the heart of the development.
Two years ago, the Mayor of London, Sadiq Khan instructed TfL to carry out detailed work on a DLR crossing connecting east and south-east London.
The project will also rejuvenate the existing town centre, creating one million square feet of new cultural, community and commercial spaces for Thamesmead and for London.
Peabody said it has been creating opportunities for Londoners since 1862, when it was established by the American banker and philanthropist, George Peabody.
Its Chief Executive Brendan Sarsfield said: “Our shared vision is to create thousands of new homes by the Thames and drive the local economy through new jobs and commercial spaces.
“With a new DLR river connection complementing the Elizabeth line on the other side of town, Thamesmead would be more connected to the city than ever before. This would unlock enormous potential and could be a real game-changer for this part of London.”
And Dan Labbad, CEO at Lendlease, Europe, added: “As one of London’s largest areas of opportunity to develop new housing and to support business and employment growth, Thamesmead can offer a fresh approach to living in London.
“Surrounded by water and outstanding wildlife, but within reach of the heart of the capital, we are excited at the opportunity to collaborate with Peabody, the local community and businesses, to bring new high-quality homes and workspaces to this exciting part of south-east London.”
Peabody said this latest announcement is the latest phase of Thamesmead’s regeneration.
They said in addition to widespread refurbishment, socio-economic and cultural development, and public realm improvements, the “whole-place” regeneration of the town could eventually deliver 20,000 new homes with its development partners plus the London Borough of Bexley, Royal Borough of Greenwich, Greater London Authority and Transport for London.
They said the town spans the same distance as central London – from Kings Cross to Charing Cross and Bond Street to Liverpool Street, making the regeneration one of the largest projects in Europe.
Peabody said it became the major landowner in Thamesmead in 2014 and is investing in a mixture of refurbishment and redevelopment proposals across the town as part of its 30-year mission for Thamesmead.
As a social landlord, Peabody owns and manages more than 56,000 homes, providing affordable housing for around 111,000 people. Peabody plans include delivering at least 2,500 new homes a year by 2021.
The company also provides a wide range of community programmes in their neighbourhoods, including help with employment and training, health and wellbeing projects, family support programmes and a dedicated care and support service.
The Peabody Community Foundation is investing over £90 million supporting communities over the next 10 years, including this year alone an investment of over £7.3 million in programmes, helping 1,123 people into work and delivering over 58,000 hours of free-to-access community activities.
Lendlease is a leading international property and infrastructure group based in Sydney, Australia with operations in Australia, Asia, Europe and the Americas and is already behind some of London’s largest regeneration projects such as Elephant Park and International Quarter London.