London Mayor Sadiq Khan has given the go-ahead for the Barking Riverside regeneration, which will see up to 10,000 properties built in Barking.
Up to 50% of the homes will be made 'affordable' on the site, which is owned by a joint venture between the Greater London Authority (GLA) and the housing association L&Q.
Despite operating under the existing London Plan set by the previous Mayor, Mr Khan has agreed a scheme which includes a minimum of 35% 'affordable' housing from the outset, with plans in place to raise this to 50% over time through additional investment and viability reviews.
-- Advertisement --
Mayor Khan said: "Barking Riverside has enormous potential to deliver thousands of the much-needed homes Londoners so urgently need.
"I've made it clear that tackling London's housing crisis is my number-one priority. Fixing this problem will be a marathon, not a sprint, but developments like this one will play a huge part in our efforts to provide genuinely affordable homes to buy and rent.
"Our next task is to ensure this development includes the facilities and infrastructure which will make this a fantastic place to live and to visit, rather than simply a housing development."
Barking and Dagenham Council Leader, Darren Rodwell, added: "We welcome the Mayor's approval for Barking Riverside masterplan. This is a key part of the regeneration jigsaw, not just for Barking and Dagenham but for London as a whole.
"It will undoubtedly make an enormous contribution to solving part of the capital's housing crisis and we are determined to create an attractive and prosperous new community there.
"This borough has a very exciting and ambitious growth programme, which includes the delivery of over 45,000 new homes and 10,000 new jobs over the next ten years."
(LM/CD)
