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Multimillion pound investment for housing

by Marco Cillario Fri 21 October 2016, 11:10 am

A £95 million scheme could bring 300 new homes and 510sq m of commercial space to Walthamstow.

Developer U+I has exchanged contracts with landowner Parkdale Investments to implement a mixed-use regeneration project for the 1.21-ha Forest Works site on Blackhorse Road.

The site is part of the council’s Blackhorse Lane Area Action Plan and is located within the Blackhorse Lane and Northern Olympic Park housing zone, one of the areas receiving funding from the Greater London Authority to speed up the development of new homes.

Former mayor of London Boris Johnson announced in autumn 2015 that the area would receive £41,985,000 towards 2,477 new properties.

Blackhorse Lane has been described by Councillor Clare Coghill, cabinet member for economic growth and high streets, as the area with “the greatest potential for improvement of any part of the borough”.

As well as £200 million of private investment, it is receiving support from the mayor’s Outer London Fund towards improvements to its high street and public amenity spaces. In January 2016 it was also announced that Blackhorse Road Station would receive £2.2 million investment from Transport for London for improvements to the station and surrounding area.

Simon Hesketh, director of regeneration at U+I, said the company aimed to create “long-term social and economic change” to the area. “We look forward to working with Waltham Forest Council and the local community to progress our redevelopment plans for the site,” he added.

The company said it would work with the council and consult with the local community to develop the plans for Forest Works.

The submission of a planning application is expected  in early 2017.


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