Galliford Try has signed a deal with the Greater London Authority to build 1,100 new homes at the Silvertown Way development in East London.
The scheme, based in Canning Town, will deliver 1,100 mixed tenure homes across a series of individual blocks, and will have an approximate development value of £380m, making it the largest standalone housing scheme the company has ever undertaken.
Galliford Try was named as preferred developer for the Silvertown Way scheme in September last year.
The project will be delivered through an existing joint venture vehicle with Thames Valley Housing Association.
One third of the homes will be for private market rent, through Thames Valley’s subsidiary Fizzy Living, while around 380 affordable homes will also be constructed by Galliford Try for London and Quadrant Housing Association.
Galliford Try will deliver the homes through its housebuilding businesses, Linden Homes and Galliford Try Partnerships.
The Silvertown Way development will also include a hotel, restaurant, employment and commercial space alongside the new homes.
Commenting on the deal, Greg Fitzgerald, Galliford Try’s Executive Chairman, said: “I am delighted that we have been able to work with all the stakeholders involved in this project to reach an agreement, and deliver much-needed new homes for London.
“As well as being a hugely significant project for our company, Silvertown Way will be a flagship regeneration project for East London, and we are committed to providing high-quality housing of all tenures for the local community.”