Town hall agrees to buy 62 homes in Barking development
- Credit: Weston Homes
Sixty-two new homes in the Town Quay Wharf development will be bought by Barking and Dagenham Council.
The town hall is set to pay about £14.6m for the scheme's designated affordable homes, which will be handed over to rent out once the development on the River Roding in Barking is complete.
Councillors approved the agreement with developer Weston Homes on July 13.
Leader of the council, Cllr Darren Rodwell, said: “The River Roding is being transformed into one of the best places for waterside living in London.
“This new deal will give local people the opportunity to live in a fantastic development at genuinely affordable rates.”
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Ed Skeates, development director of the council’s regeneration arm Be First, added: “This decision is a great investment for the council and local people.
“It means quality new homes at great rates in a superb setting.”
Town Quay Wharf will provide 147 apartments of one, two and three bedrooms, including the 62 council homes and 85 private sale homes.
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The mixed-use development will also feature about 1,000 sqm of commercial space in three new buildings designed around a public plaza, overlooking the Mill Pond and River Roding.
There will be food and beverage shops, workshops and artist studios on the ground floor of the buildings, alongside entrance foyers for the apartments on the upper levels.
Town Quay Wharf is due to be completed in 2024/25.
Weston Homes chairman and chief executive Bob Weston said: “These new council homes will assist with the provision of much-needed low-cost housing for local people.
“Town Quay Wharf will help to reconnect Barking town centre with the waterfront and create a vibrant new waterfront development with the apartments benefitting from a waterside and parkside setting."
Weston Homes is also building the neighbouring Abbey Quays urban village, featuring 1,089 homes, retail and commercial space and leisure facilities.
Mr Weston added: “Town Quay Wharf and our Abbey Quays scheme are providing the borough with major inward investment and helping to revitalise the Barking waterfront, underlining Weston Homes' role as one of the leading residential developers in the local area."