Exactly a decade after the 2012 Olympics began, Developer Ballymore has formed a joint venture with the London Legacy Development Corporation (LLDC) to develop two waterfront sites at the London Olympic Park.
The 50-50 partnership will see almost 1,200 new homes being built, including 575 at Bridgewater Triangle and 600 at Stratford Waterfront. Of these, 50 per cent and 35 per cent respectively will be classed as affordable. The developments will also include ground floor retail space.
The sites are located adjacent to the East Bank, an area the LLDC is developing as a culture and art, with organisations like BBC Music, Sadler’s Wells, the V&A and UAL’s London College of Fashion set to take up residence there.
Homes will be delivered in various forms, including apartments and townhouses, plus different forms of tenure. Other elements, such as whether some of the homes will have underfloor heating, will be revealed when more details of the plans emerge in due course.
Group managing director at Ballymore John Mulryan said: “We are delighted to be partnering with LLDC, supporting the regeneration and delivery of homes in this special and inspiring destination that puts community and culture at its heart.”
He added: “Ballymore has been strategically focused on large-scale strategic partnerships with public bodies and this joint venture aligns with that goal.”
The redevelopment of the Olympic Park has been a mixed-use affair, with some sporting venues remaining, such as the main stadium – now home to Premier League football side West Ham United – and the Lea Valley Velopark, which is hosting track cycling events in the Birmingham 2022 Commonwealth Games.
London’s Olympic Park lies in the borough of Newham, which has seen some of the fastest population growth in the capital in recent years as investment has poured into the Stratford area around the Olympic Park.
The population of the borough rose by 14 per cent between 2011 and 2021, according to the 2021 Census. Although this was exceeded by its contiguous neighbours Tower Hamlets and Barking & Dagenham, it was still well above the overall London population rise of 7.7 per cent.
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