Tenants voted in December by a 4-1 margin to transfer the 1960s estate to a consortium of Peabody Trust, Ujima Housing Association and Unitary, itself a joint venture between housebuilder Rydon and social housing contractor United House.
Dutch landscape architect West 8 has drawn up a masterplan in which 210 of the 404 houses will be refurbished and the rest demolished to make way for 670 new-build homes. Half of the 880 homes in the completed scheme will be affordable, the rest will be sold on the open market.
The £120m-scheme will be self-financing with the affordable homes subsidised by sale of the private houses. Peabody claims it is the first scheme of its kind to win tenant approval.
No comments yet