Genesis Housing and QPR football club have won approval for 605 new homes in the West London regeneration area
Old Oak and Park Royal Development Corporation (OPDC) has given the go-ahead to a £175m mixed-use regeneration project from Genesis Housing Association and Queens Park Rangers Football Club (QPR).
The 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 OPDC and will provide a link road into Old Oak.
The project is to deliver 605 new homes, of which 40% will be affordable and a new 40,000 ft2 creative hub aimed at attracting high tech firms.
Neil Hadden, chief executive at Genesis Housing Association, said: “We are delighted to be part of the redevelopment of Old Oak, one of Hammersmith and Fulham’s most important regeneration sites at which so many new homes will be built, of which 240 will be affordable.
“We are committed to the future regeneration of Old Oak and partnerships such as the one we have with QPR will enable us to invest, not only in building new homes, but in developing new communities.”
Genesis controls the Oaklands site, while QPR has other strategic land interests in the area and hopes to build a new stadium as part of the wider development.
Tony Fernandes, co-chairman of QPR, said: “This is the start of long term strategic investment for QPR at Old Oak and demonstrates our commitment to the area.
“Whilst our primary interest is securing the future of the club through the construction of a new stadium, we will only be able to deliver this by taking equity interests in wider regeneration projects such as Oaklands. We are continuing to talk to the OPDC about our vision for a new stadium which will have sporting, educational and community facilities that will be used all year round.”
Subject to mayoral approval work is expected to start on Oaklands this financial year and take three years to complete.
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.