Hackney Council is investing a package worth more than £16m over the next four years and developer Berkeley Homes has contributed more than £30m. Funding for the affordable housing element has come from the Homes and Communities Agency.
The development programme will deliver a range of new facilities including a health centre, and retail and commercial opportunities. Some 1,000 homes are already being built on the site, as well as a new community centre and Skinner’s Academy, completed in November.
Planning permission has also been granted for Berkeley Homes to begin construction at the Horston and Sherwood, and Newnton Close sites, with Phase 2 being considered in March, to build a total of 226 homes for social renting, 182 for shared ownership, and the remainder for private sale.
Taken together, the funding and planning approval mean that nearly half of the 4,600 homes planned for the 20-year regeneration programme are now either under construction or on course for completion over the next five years.
Justin Tibaldi, managing director of Berkeley Homes (Capital), said: “Woodberry Down is one of the most significant regeneration schemes to be launched in the country in the past decade. Berkeley Homes is totally committed to it and will continue to work closely with our partners to ensure that together we deliver the investment necessary to create a real, sustainable community where people will choose to live, and that provides long-term social and economic benefits for the wider area.”
Genesis Housing Group will acquire and manage around 1,900 affordable rented and intermediate homes on the development over a 20-year period. This equates to 41% of the total.
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