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As part of the continuing regeneration of east London stimulated by the Olympic Games, a £250 million regeneration project in Tower Hamlets has been given the green light.
The huge project will see the delivery of 1,176 homes, shops, healthcare and community facilities to replace the existing dilapidated 1950s buildings over a period of 12 years, with work divided into six phases.
Phase one will consist of a £40 million project to build 342 new homes for private sale, shared ownership and affordable rent.
Until its completion in 2024, the scheme will sustain some 1,000 construction jobs and create 300 jobs for local people after the work is completed.
"This is a mammoth undertaking that will provide an exciting future for Aberfeldy estate's residents as well as enticing a new generation of people looking to benefit from the region's Olympic legacy and its quick links into Docklands and the City," said Regen CEO Andrew Telfer.
Author: Editor Gavin Pearson (gpearson@acenet.co.uk or 0207 202 0255)
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