Thousands of new homes planned for 'long neglected' part of Newham
PUBLISHED: 17:00 17 May 2019
Newham Council has agreed to spend £4.5 million on creating a plan for the regeneration of Canning Town that could include 4,500 new homes.
Cabinet members voted to spend the money on creating an initial masterplan for the Canning Town East area.
It will see the council become a strategic developer in order to deliver up to 4,500 homes - including 1,600 in the first phase.
Half of this first phase of homes have been designated as affordable rented housing.
These will be built on both sides of the A13, west of the junction with Beckton Road. The area north of the main road will border Mona Street and Mary Street, while the area south of it will stretch from Forty Acre Lane to Rathbone Street, as far down as Vincent Street.
The council intends to use some of the £107m Building Council Homes for London funding it received from City Hall last year to construct the first phase.
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It is part of a wider, long-term regeneration of the Canning Town and Custom House area set to cost around £3.7billion.
Mayor of Newham Rokhsana Fiaz said: "This is part of a significant programme of regeneration taking place and the council itself will lead as the strategic master developer for the remaining regeneration sites.
"This is a part of the borough that has been long neglected and I am really pleased to see that we are accelerating progress in this area."
The £4.5m set aside to spend on the Canning Town East masterplan will come from a £111m pot that was previously approved by the council to buy back properties and acquire land as part of the Canning Town and Custom House regeneration.
The council has said that each part of the development will be co-designed with residents to ensure that what is created is what people who live in the area want.
By becoming a strategic developer, Newham Council has the potential to create 4,500 homes on council-owned land in the next 15 years. Half of these will be at social rent levels.
Ms Fiaz added: "This is a demonstration of yet another example where the council is in the driving seat in determining the principles, the approach, and the way in which we ensure that our residents are involved every single step of the way with regards to the regeneration of this neighbourhood."