Affordable homes to be built in Southwark

A new £1.5 billion housing development has been given the go-ahead in Southwark.

Housing association Guinness South has teamed up with developer Hills Residential to build 140 new homes in the Elephant & Castle area, 84 of which will be affordable and 28 will be family homes.

The scheme will also include 56 homes for private sale, which will help fund the affordable homes, and a new community centre and retail unit.

Commenting on the initiative, Stephen Olujide, head of development said: "We were able to secure additional grants from the Greater London Authority and Southwark Council so rent levels for the new homes will be genuinely affordable for eligible residents moving from the nearby Heygate and Aylesbury estates."

The properties will face towards the local park, and are set to include balconies, rooftop terraces, and communal areas.

Sustainability will also play a major role in the development of these new homes, which will have a central, gas-fired, combined heat, and power plant and thermal stores and photovoltaic panels.

The initiative is part of the council’s Heygate replacement housing programme which is building 418 new social rented homes in the Elephant and Castle area.

Councillor Fiona Colley, Southwark Council’s cabinet member for regeneration, said: "I am delighted to see work starting on the creation of 84 new social rented homes and a new community centre. Combined with the many other new housing developments which have completed, are under construction or have planning consent, the Elephant and Castle regeneration programme is now on track to deliver at least 1,715 new affordable homes.”

The scheme is situated to the south of the Heygate Estate in Southwark and consists of two sites either side of Stead Street. As part of the project, the existing English Martyrs Church hall in the area will be demolished and the completed development will include a replacement purpose built multi-function space, with improved facilities for community events. 

Published 2nd June, 2014

© 2014 Estates IT Limited