Mayor seeks developer for 2,000 new homes in Newham
26 March 2015, Blog
In what might be one of his last acts before he becomes an MP London Mayor Boris Johnson is searching for a development partner to bring a further 2,000 homes to East London at a former Parcelforce depot site.
The site on Stephenson Street in West Ham was once a 25-acre Parcelforce warehouse and car park. The site came under the Mayor’s ownership three years ago as part of a 1,729-acre package of surplus public land. The Newham site is the latest of several such sites to be earmarked for future housing by the Mayor.
Currently, 90% of this public land is in the process of development. The Mayor will look to his 25-strong London Development Panel of UK-based developers in order to find a partner as quickly as possible. The Panel allows public land owners to short-cut procurement processes and find a developer more quickly.
A third of the houses at the Newham site will be for private rent, with the remaining houses being a mixture of affordable housing and private sale homes. Johnson said: “With London now home to more people than ever before, housing supply and affordability is our biggest challenge. By seeking a development partner for the Stephenson Street site we hope to entice investors and developers to come forward and build quality homes for Londoners.”
As we approach the General Election, housing remains near, if not at the top, of the political agenda for London.