Major £200m regeneration to boost east London - planning and development

Tuesday, March 16, 2010

Planning and development of east London estate to be decided by Boris Johnson this week

By Ashley Brunskill

Planning and development of part of east London took a major step forward after being approved by local authorities.

Tower Hamlets council has approved plans to demolish and rebuild the Ocean Estate in Stepney with 800 new homes being built.

In addition, a further 800 homes will be part of a refurbishment that includes external works to another 1,200 homes in the area.

Ocean Estate was amongst the most deprived areas in the country and local leaders are delighted with the chance to rejuvenate part of the East End.

The project will receive more than £40 million from the Homes and Communities Agency (HCA) to help provide affordable homes for the local population.

David Lunts, the HCA's regional director for London, said that funding was "vitally important" and could supply the borough's needs.

He added: "We're proud to be involved in transforming the lives of local people by supporting the creation of a place where people will want to live."

The plans will be considered by the Mayor of London Boris Johnson this week.

Source: ask-re The Property People LLP