Willmott Dixon鈥檚 development division Regen has achieved financial close with housing association Poplar HARCA for phase one of the redevelopment of the Aberfeldy estate in Tower Hamlets. This first phase, which has a development value of聽拢30m, is for 105 new homes for private sale. Willmott Dixon鈥檚 contracting business will start on site in March.
Over the next 12 years, is expected to result in 1,176 new homes as well as new shops and community facilities.
Brian Brady, managing director of Willmott Dixon鈥檚 residential development business, said: 鈥淎fter a lot of work in the planning stage, we can now start on site and help turn what is an exciting vision into reality. We are delighted that our development know-how and experience of estate regeneration is able to help Poplar HARCA realise their ambition to create a new future for Aberfeldy Village and its residents; a journey we look forward to completing together.鈥�
Poplar HARCA chief executive Steve Stride said: 鈥淎chieving financial close on the first stage is great news for everyone who lives in the area as it means we can start a major programme of investment that will transform this estate and enhance thousands of residents鈥� lives. It will also create a place that will attract people who鈥檒l want to be part of a vibrant community that has quick access to so many other parts of London.鈥�
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