The £600m Canning Town Centre scheme will progress after Bougues Development announced a principal development agreement with Newham Council.
The contractor made the joint announcement with the London Borough of Newham at MIPIM today, with the scheme to form part of the £3.7bn Canning Town and Cutom House regeneration programme.
The six hectare site will reconnect the areas north and south of the A13 flyover – Canning Town Corner with Barking Road and Rathbone Market - to create a new town centre.
The scheme was first announced in CN in 2009.
The first phase will comprise 179 residential units of private and affordable housing, and a Morrisons supermarket of more than 7,000 sq m with work to start in Canning Town during the final quarter of 2012.
Other schemes that form part of Newham’s Canning Town and Custom House regeneration programme include:
The scheme includes 650 new homes and a new Keir Hardie Primary school with an investment value of over £80m. In 2010, Countryside was awarded £4.22m from the HCA to progress the scheme. In addition the council has agreed a contribution of £2.13m towards the new primary school. Work on Phase 1, which will deliver 139 new homes and 57 car parking spaces, started on site in June 2011 and is due to complete in 2013.
This pioneering £180m scheme comprises 650 homes, new retail units, a market square and a Library Plus. In addition the development includes an eco garden with green walls and roofs that drain rainwater into a hi tech watering system. In 2010 ECF secured £13.8m funding from the HCA to progress the first phase of the scheme which comprises 271 new homes and new retail units
The entire town centre scheme includes approximately 1,100 mixed tenure housing units, more than 30,000 sq m of leisure and retail space and more than 3,000 sq m of space for community facilities.
New pedestrian links and cyclist provision is also included, as well as 1,100 secure parking spaces, and the whole scheme is scheduled to be completed by 2023.
One Housing Group is the registered social landlord for the scheme and Bouygues UK is the main contractor.
Bouygues Development managing director Stephane Slama-Royer said: “To be funding such a massive regeneration scheme at cost is a fantastic achievement for Bouygues Development and we are very proud to be involved in a project that will bring positive change to the communities who live and work in Canning Town”.
London Borough of Newham mayor Sir Robin Wales said: “This scheme is the real game-changer for Canning Town, and illustrates the scale of our ambition when it comes to delivering regeneration in Newham.