Balfour Beatty has got the planning green light to start the first 300 homes of its planned 1,500-home development at London’s Olympic Park.
Two new neighbourhoods known as Eastwick and Sweetwater will be built to the West of the Queen Elizabeth Olympic Park near the Here East Centre.
Balfour Beatty’s construction arm will deliver all building work, which is expected to generate £400m, while the group’s investment arm injects £35m over eight years, representing 50% of the equity required.
The development will be constructed in phases over eight years creating 50 apprenticeships and sustaining 350 construction jobs at peak.
The transformational project at Queen Elizabeth Olympic Park in East London is being delivered in a 50:50 joint venture with Places for People, which will manage sales and letting.
It will create two new neighbourhoods, to be called East Wick and Sweetwater, with up to 1,500 homes including 450 affordable homes, 530 homes for private sale and 500 private rented sector homes.
East Wick
- Up to 850 new homes
- North-west of the Park next to Hackney Wick and Here East
- Townhouses, mews, studios and flats
- New primary school and two new nurseries
- 91,000sqm residential
- 9,000sqm employment space
- 5,600sqm community
- 4,700sqm retail and leisure
Sweetwater
- Up to 650 new homes
- South-west of the Park near Old Ford and the Copper Box Arena
- Studios, flats and family homes with private gardens
- New primary school and two new nurseries and a health centre
- 67,700sqm residential
- 1,000sqm employment
- 8,400sqm community
- 2,500sqm retail
from Construction Enquirer http://www.constructionenquirer.com/2017/01/31/balfour-gets-green-light-for-300-olympic-park-homes/
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