An agreement has been signed between Notting Hill Housing (NHH) and Southwark Council, to deliver one of the most ambitious regeneration projects in Europe.
The Aylesbury Estate as it looks today.
The Development Partnership Agreement (DPA), signed yesterday (28 April), confirms NHH as the development partner for the regeneration of the Aylesbury Estate in Southwark. This follows the announcement by Cabinet on 28 January that NHH had been chosen as the preferred partner for the project.
Chief Executive of NHH, Kate Davies, said: "Today marks the beginning of what will be an extraordinary journey for us, the council, the Creation Trust and the residents of the Aylesbury Estate. We are looking forward to working with them over the next 20 years to deliver their vision of a vibrant community that is connected to the city."
"As well as providing much-needed quality homes for the community, we are committed to supporting the economic development of the area. This will be achieved with more than 1,400 employment, apprenticeship and training opportunities in a range of jobs over the lifetime of the project."
The DPA commits the partnership to delivering a masterplan for 3,500 new homes, 50% of which will be affordable homes, 75% of which will be for social rent and 25% for shared ownership or equity. A minimum of 30% across all tenures will have three bedrooms or more. This will help meet the council’s commitment to building more affordable and social rented homes in a range of sizes to meet housing demand. In line with the Area Action Plan, there will be a net increase in homes from 2,400 to 4,200.
NHH's team includes Barratt London as developer partner and a panel of architects led by HTA Design LLP and includes Hawkins Brown and Mae Architects.
Construction of the new homes will start in 2016. The entire regeneration project is expected to be finished in 2032.
The team will be working partnership with Southwark officers and the Creation Trust to deliver the regeneration.
