The firm will build phase one of the East Wick and Sweetwater development, which involves four mixed use buildings, including 302 apartments, townhouses and duplex residencies and a number of associated commercial facilities including retail and leisure amenities.
The new homes will contribute to the transformation of the Queen Elizabeth Olympic Park, providing a new, diverse and vibrant part of East London, as well as 1,500 new homes for the community.
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Approximately 500 people are expected to be employed at construction peak, with 7% of the workforce made of up apprentices.
Graham Hill, Balfour Beatty's Managing Director for its London Regional construction business, said: "This contract award builds on Balfour Beatty's strong relationship with the Queen Elizabeth Olympic Park and the London Legacy Development Corporation, having constructed the London 2012 Aquatics Centre and delivered transformative engineering works to the London Olympic Stadium.
"We look forward to providing East London with a lasting legacy by creating a range of employment opportunities for local people and businesses through the development of this new and exciting neighborhood."
This work is the first of seven construction phases for the development.
It is being supported by equity from Balfour Beatty Investments in joint venture with Places for People and borrowed funding provided by Homes England.
Ground preparation works commenced in early 2019 with completion expected in spring 2021.
(CM/MH)
