The deal sees the creation of a new residential and commercial neighbourhood, which will be brought forward over four different phases. Situated adjacent to Pudding Mill Lane Docklands Light Railway, consideration has been given to ensure that a diverse range of housing needs will be met in the overall tenure mix. A minimum of 45% of the new homes will be affordable - which includes a percentage of low-cost rent housing - and a high proportion of family housing will be included.?A rich mix of high-quality social and public amenities will ensure the delivery of a sustainable long-term community.
In addition to the new homes, the development will include 30,000 sqm of high-quality commercial space, which will include retail, community and leisure uses. The new neighbourhood will support growth and development, with employment and skills opportunities for local East London residents, businesses and start-ups to thrive, as well as helping to drive the ambitious growth plans for Queen Elizabeth Olympic Park and London.
The JV scheme at Pudding Mill Lane will be a great addition to the Park’s already thriving Innovation Cluster and world-leading Knowledge, Culture and Education District; a place where entrepreneurs, innovators, businesses, academic and cultural institutions, and community anchors, are purposefully brought together to create the conditions for sustained innovation and inclusive growth.
Construction of the first phase is anticipated to start in early 2026, with completion of the overall scheme scheduled for 2033.
The Planning Decisions Committee of the London Legacy Development Corporation (LLDC) held its 112th and final meeting on October 22, 2024, as the Mayoral Development Corporation prepares to hand back town planning powers to the local boroughs as of December 1, 2024.
Greg Fitzgerald, Chief Executive of Vistry Group, said: “This is a fantastic opportunity for our partnerships business to revitalise this area of East London and create a thriving and sustainable new community. We are very pleased to be working in partnership with the LLDC and the GLA to provide the mix of high-quality new homes that residents desperately need, alongside the infrastructure, facilities and socio-economic opportunities required to support them.”
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