Developer Hadley Mace has finalised a deal with the Mayor of London Boris Johnson and the Royal Borough of Greenwich to deliver a £250 million mixed-use scheme in east Greenwich that will create new jobs.
It is anticipated that the first phase of homes and community facilities will be completed by late 2014, with the entire development completed approximately three years later, paving the way for employment in the trades.
David Grover, director of Hadley Mace, said: “This leading scheme will demonstrate the benefits of public private consortium and its impact on a community that has been anticipating investment and re-development for more than 10 years.”
“The partnership between Hadley and Mace came about as a response to the Home and Communities Agency’s quest to find a new way of regenerating neighbourhoods with fresh, innovative thinking and creative investment.
“Acting as delivery partner for the client, and taking control of funding and risk aspects of the scheme, we are offering a full turn-key solution that can be replicated throughout the UK on all public land and any stalled public regeneration scheme.”
The Mayor of London, Boris Johnson, said: “This landmark regeneration scheme is a key part of my commitment to provide much-needed housing and jobs for Londoners by bringing forward public land for development.
“The East Greenwich project will see nearly 30% of homes built with families in mind and the construction of some fantastic new amenities that will help to create a thriving and vibrant community.
“I am delighted the scheme is now storming ahead and is another step closer to delivering what I have no doubt will be an exciting new place for Londoners to live, work and visit.”