Affordable homes planned for new neighbourhood development in Newham

A view from above showing Stephenson Street marked out in red. Picture: Google Maps (Image: Google Maps)

The agreement struck between Mayor of London Boris Johnson and developer Berkeley Homes will open up the 25 acre (10 hectare) site in Stephenson Street, formerly a hub for delivery company Parcelforce. A stretch of retail space is also planned.

More than a third of the homes will be designated as affordable, according to the mayor, who has released the site from his ownership as part of a drive to free up all of City Hall’s land assets for development by 2016.

Homes in the development will be available both to buy and rent and there will be a “significant proportion” of shared ownership properties, it was revealed today. However the proposals remain subject to planning approval before going ahead.

Mr Johnson said: “This huge chunk of disused land will be put to the best possible use, creating a whole new neighbourhood including 3,500 much-needed new homes, a new school and a park.

“This ambitious development will help to further the continuing transformation of east London as part of our Olympic legacy.”

Berkeley Homes was selected from a shortlist of four developers as the partner for the site as part of the London Development Panel procurement process, set up by the mayor to accelerate the delivery of housing in London.

Berkeley Group chariman, Tony Pidgley, said: “Stephenson Street will be a new village for London.

“It will have all the qualities that a successful community needs: shops, workspaces and a school, links between neighbours, a beautiful park where people can play and great transport connections.

“Above all, this site will create homes for people regardless of their age, background or income. It will be a place for everyone.”

Pending planning approval, the first homes could be delivered as early as summer 2018.