Peabody housing association has been granted planning permission to develop thousands of new homes in Thamesmead, southeast London.
The scheme, approved by the London Borough of Bexley, is one of the largest residential projects that were given go-ahead in London this year.
The Thamesmead development consists of four sites and will be delivered in four stages from 2017 to an expected completion in 2024.
Peabody will first build Southmere Village, a 525-home development (230 of which affordable) on the banks of Southmere Lake alongside a library, cafes, restaurants and shops. Work is set to commence next year with the first residents expected to move in in 2019.
The future phases will deliver around 1,000 more homes, new commercial and community spaces and a revamped public realm at Binsley Walk Coralline Walk and Sedgemere Road.
The neighbourhood will be connected to central London from the Abbey Wood station via Crossrail, knows as the Eizabeth line, which will open in December 2018.
Peabody’s Executive Director for Thamesmead, John Lewis said:
“This is a huge milestone in the regeneration of Thamesmead. As well as creating much needed, quality new homes, the development will create thousands of new jobs and will attract new businesses too. This is just the start of our commitment to Thamesmead and its residents at what is a really exciting time, with the Elizabeth line opening at Abbey Wood station in December 2018 and the DLR extending to Thamesmead in the next ten years.
“Thamesmead will be better connected, opening up new opportunities to residents and to businesses looking to invest. We hope this will be the catalyst for Thamesmead fulfilling its promise as London’s new town.”
Cllr Teresa O’Neill OBE, Leader of the London Borough of Bexley said:
“After many years of joint working, I am delighted that Thamesmead has reached such an important milestone in its history. We know that London faces significant housing pressures and are committed to being part of a future that makes quality places where people choose to live and work.”