New homes on the way with the second stage of Canning Town market regeneration
17:40 16 April 2014
The second phase of the £180million regeneration of Canning Town’s Rathbone Market begun with the official launch last week.
Following the completion of the initial stage, Aurelia at Vermillion will see 165 new homes built across the 279,000 square foot development.
Of the new flats, 123 will be available to buy while 42 will be put aside for shared ownership through Notting Hill Housing – the first homes having already been sold.
The development will also include 12,000 square feet of retail space, a library and community building plus two public squares, including the new permanent home of Rathbone Market.
The first phase of development – costing £46m and comprising a residential tower and two adjoining blocks providing 271 homes as well as 20,000 sq ft of shops and cafes – was completed in August 2012.
Cllr Conor McAuley, executive member for regeneration and strategic planning, said: “The transformation of Canning Town is clear to anyone visiting the area with the Rathbone Market development visible across Newham and wider east London.
“The success of Vermillion has demonstrated exactly what the public and private sector can achieve when working together.
“I am looking forward to seeing the second phase of the project get under way bringing more homes, retail space and community amenities for both existing residents and those who have recently moved here.”
The third and final phase of the project has been submitted to planning chiefs and a decision is expected from Newham Council later this month.
Created by English Cities Fund (ECF), the project is a joint venture between Mue Developments, Legal and General Propety and the Homes and Communities Agency (HCA).
The development is part of Newham Council’s £3.7bn Canning Town and Custom House regeneration programme
More details at rathbonemarket.com.