Mayor of London approves plans after intervening to add more affordable homes
Mayor of London Sadiq Khan has approved plans for a £175m scheme at Old Oak after intervening to boost the number of affordable homes in the scheme.
The 605-home Oaklands scheme, located on the western part of the wider Old Oak regeneration area in West London, is the first major planning application approved by the Old Oak and Park Royal Development Corporation (OPDC) and will provide a link road into Old Oak.
The CZWG-designed project is being developed by Genesis Housing Association and football team QPR. The scheme also includes a new 40,000 ft2 creative hub aimed at attracting high tech firms.
A target of 50% affordable housing has now been agreed for the development, up from 40%, following an intervention by the Mayor to boost the number of affordable homes through investment and a profit-sharing mechanism.
Half of the 242 affordable homes will be for social and affordable rent, with the other half being for shared ownership.
Construction on the scheme will now start later this year.
Khan said: “The development marks a significant step in realising the huge potential of this part of the capital.
“I am pleased that we have been able to increase the proportion of genuinely affordable homes as part of our ongoing efforts to fix the capital’s housing crisis.”
Genesis chief executive Neil Hadden said he was “delighted” the scheme had been approved and said the housing association will now be able to provide “hundreds more affordable homes for Londoners on a once derelict site.”
QPR co-chairman Tony Fernandes also welcomed the approval, and added: “We are committed to bringing forward other development sites in Old Oak as soon as possible to create the homes that London desperately needs.
“All this will help us achieve our ultimate goal, which is to secure the future of the club through the construction of a new stadium with sporting, community and educational facilities.”
Old Oak has been identified as a major regeneration opportunity with the opportunity to create 25,500 new homes and 65,000 new jobs, as well as the potential of being a key transport hub for Crossrail and HS2.