Permission granted for Stratford Island development
PUBLISHED: 13:17 04 February 2016 | UPDATED: 13:17 04 February 2016
New homes, leisure space and the redevelopment of the Stratford Centre are all set to go ahead as part of a £100million project.
Work on the Stratford Island scheme is expected to begin this year now that planning permission has been secured.
Estimated for completion in 2018, it will deliver around 600 new homes in two tower blocks, one of 42 stories and the other of 25.
This will include the conversion of a currently vacant office block and feature 59 homes that are specially adapted for disabled people and a further 81 that are of an affordable rent.
The plans also include around 24,800 sq ft of leisure space and restaurants and 12,500 sq ft of office space, creating 200 new jobs.
The Stratford Centre will see improvements to market trader storage facilities as well as connectivity, landscaping and car park upgrades.
The scheme is a joint venture between Blackstone Real Estate Partners and Catalyst Capital, who own the Stratford Centre.
Jon Lurie, managing director at Blackstone, said: “This is the culmination of years of working in partnership with local interest groups, community consultation and investment to develop the proposals, which will see the delivery of a number of community benefits including affordable homes, new public spaces and the creation of hundreds of jobs.”
Andrew Turton, development manager at Catalyst Capital, added: “This is a significant step in our plans for Stratford Island, which will provide a new and attractive entry-point into Stratford.
“We are certain that businesses and residents will continue to support its speedy delivery.”