The Mayor of London Sadiq Khan and developer London and Quadrant (L&Q) have partnered to deliver a regeneration project in the UK capital that will build up to 11,000 homes.
The partnership, called Barking Riverside Ltd, will invest £500 million in the Barking Riverside project, which will also develop transport links in the area and provide parkland and other communal spaces.
Funding has been secured for a new rail station connecting to central London in 22 minutes and for a new centre with 65,000m² of commercial, retail and leisure space. Land has also been set aside for for seven schools.
L&Q’s managing director of east region Andy Rowland said: “This agreement marks a vital step for Barking Riverside, ensuring we are able to deliver the necessary infrastructure to build a well-connected and thriving community which will benefit existing and future residents for years to come.”
L&Q is one of the UK’s leading housing associations and one of London’s largest residential developers, owning or managing over 90,000 homes in London and the South East.