Posts tagged London Area
The schemes backed by the London Enterprise Panel (LEP) are in areas where ambitious regeneration plans are in place and where transport infrastructure will help unlock significant economic growth.
These schemes are set to deliver improved rail links between Tottenham Hale and the Upper Lee Valley; major road improvements in Bexley and support Ealing to harness the economic opportunities coming from Crossrail.
Collectively the projects could safeguard existing or create an estimated 45,000 jobs, support the construction of tens of thousands of homes and attract significant private investment into deprived areas.
The LEP’s adoption of these bids is a significant milestone for these projects and the proposals will now progress to a final stage, including more detailed work developing business cases, technical modelling and delivery mechanisms.
The Mayor of London, Boris Johnson, said: “Transport links are a vital precursor to economic development. This money is earmarked for investment into transport schemes which have significant potential to stimulate growth and job creation.
“I welcome the London Enterprise Panel’s assessment of which projects are best placed to do this and City Hall will now be working with the bid teams to progress these ambitious proposals.”
The bids approved by the London Enterprise Panel will provide extra services at Northumberland Park and Tottenham Hale, improving rail links between Stratford, the Upper Lee Valley and beyond including Stansted Airport.
Collectively with Angel Road Station improvements, this will support the commencement of the Meridian Water development and regeneration at Northumberland Park where there are plans for an estimated 3,500 homes and 500 jobs.
It will also support the development of an estimated 15,700 new homes, 21,900 new jobs in the Lee Valley and up to 15,000 jobs in adjoining areas.
£2.5 million allocated to upgrade Angel Road station and support regeneration in Enfield (bid from Enfield Borough Council). Angel Road station is vital to the regeneration of Enfield and specifically to support the Meridian Water development and regeneration in the Lower Lea Valley more widely.
Station improvements will increase passenger capacity through an enhanced commuter rail service and boost employment across wide range of trades in the building construction industry.
One of the largest providers of affordable housing in the South of England, Sovereign Housing Association, has announced it will build more than 3, 000 new homes over the next four years, paving the way for jobs in the building construction industry.
The ambitious plan will see 1, 064 new homes built by the end of this financial year, 865 of which have been already identified, the housing association confirmed last week. Under Sovereign’s new development strategy at least 276 of the new homes will be for affordable home ownership, forecasting a similar number of homes to be completed in 2013/14.
Development and Commercial Director at Sovereign, Phil Stephens, said: “The top priorities of our development strategy are to ensure that we deliver the HCA Affordable Homes Programme and to play our part in achieving Sovereign’s aim of reaching 50,000 homes by 2015,”
“Our recent successful bond issue has given us the financial strength and flexibility to continue delivering a substantial programme of new homes in our core operating areas in the coming years.”- added Mr Stephens.
It was revealed that Sovereign’s development will include a significant number of shared ownership homes as well as a growing number of market rent properties in key locations.
Mr Stephens commented that there is a definite gap in the market rent properties due to the rising demand from people unable to buy their own homes.
He said: “We will be looking to build on the positive experiences we have had so far letting homes at market rates in the West Country, and not only develop a broader portfolio of properties, but also diversify our revenue streams to enable us to continue providing affordable homes into the future.”
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