Silvertown Way has an estimated development value of £380m
Galliford Try has signed a development agreement with the Greater London Authority to construct the 1,100-home Silvertown Way development in Canning Town, east London.
The John Thompson & Partners-designed scheme will comprise mixed-tenure homes across a series of tower blocks. The estimated development value is £380m, which Galliford Try said made it the largest standalone housing scheme it has taken on to date.
The project will be delivered through an existing joint venture vehicle between Galliford Try and Thames Valley Housing Association. A third of the homes will be for private market rent, through Thames Valley’s subsidiary Fizzy Living, and around 380 affordable homes will also be constructed for London and Quadrant Housing Association.
Galliford Try’s housebuilding businesses, Linden Homes and Galliford Try Partnerships will be responsible for undertaking the development, which will also include a hotel, restaurant, employment and commercial space alongside the new homes.
Greg Fitzgerald, Galliford Try’s executive chairman, said: “I am delighted that we have been able to work with all the stakeholders involved in this project to reach an agreement, and deliver much-needed new homes for London.
“As well as being a hugely significant project for our company, Silvertown Way will be a flagship regeneration project for East London, and we are committed to providing high-quality housing of all tenures for the local community.”