Britannia Music Site developers secure £25m funding from Mayor of London to build 354 new homes
PUBLISHED: 13:30 15 January 2016 | UPDATED: 13:30 15 January 2016
Work to build more than 300 new homes on the Britannia Music Site in Ilford will begin this year thanks to the town’s housing zone scheme.
Developer Durkan is planning to build 93 affordable flats, 206 privately-rented homes and 55 homes for sale, as well as 865 sq m of commercial space, after securing a £25million loan from the Greater London Authority (GLA).
The plans were initially approved in 2010, but have stalled while the developer secured funding for the project.
Announcing the news today, the Mayor of London’s office said work to build the 354 homes was expected to begin in autumn this year and be completed by spring 2019.
Deputy Mayor for Housing and Land Richard Blakeway said: “Housing Zones aim to free up empty brownfield sites for development by providing a funding boost and ensuring housing delivery takes place when it might never have happened.
“The Britannia Music site in Ilford is a classic example of how this works in practice. The Mayor’s investment has unlocked a site that has previously stalled since 2007, delivering much-needed homes which it’s hoped will trigger further development in an the town centre.”
And Danny Durkan, executive chairman of Durkan, said: “Durkan are delighted to have secured the first GLA loan facility allocated through the Mayor’s Housing Zone initiative.
“This exciting project located at Roden Street, Ilford, comprises of 354 units and commercial space and falls within the Ilford Town Centre Housing Zone designated by the GLA in May 2015. The tallest part of the development will be 23 storeys.
“The significant funding provided by the GLA has ensured that we are now able to provide the right level of investment to bring the scheme forward and the timing could not be better as not only will Ilford be benefiting from the pending arrival of Crossrail, the development will form an integral part of the town centre regeneration.
“We would also like the thank the London Borough of Redbridge whom we worked closely with on this project and whom were very supportive in the early proposals submitted to the GLA.”
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