You are viewing 1 of your 1 free articles
Riverside appoints joint venture partner for second estate regeneration
Riverside has exchanged contracts with a developer for a joint venture to deliver the regeneration of the Tiller Road site on the Isle of Dogs in east London.
Mount Anvil will help deliver the scheme after being selected as the 75,000-home association’s preferred development partner.
The development will be the landlord and developer’s second estate regeneration scheme in the area. The partnership aims to deliver more than 300 new homes within the London Borough of Tower Hamlets.
The homes will include new affordable and private properties, in addition to the supply of 72 homes for current residents to replace those in the three existing buildings: Kedge House, Starboard Way and Winch House.
READ MORE
Riverside said this joint venture partnership demonstrates its “commitment to a resident-led approach to regeneration that focusses on collaboration with the local community”.
A residents’ ballot on the regeneration proposals saw 88% of the tenant community vote in favour of a full redevelopment, in a turnout of 94%.
In keeping with this approach, the joint venture partners will be working closely with residents and the wider community on the design of the scheme, which will be submitted for planning permission later this year.
Leanne Ward, chair of the Kedge House, Starboard Way and Winch House Residents Steering Group, said: “The residents are excited to start working alongside Mount Anvil to design their future homes. This is a massive step for us, and we look forward to working together as a community.”
The scheme expands Mount Anvil’s partnership with Riverside following the developer’s previous appointment to deliver 218 new homes as part of the the nearby Bellamy Close and Byng Street regeneration.
The partnership’s growing delivery portfolio also includes new affordable homes at Friars Close in Southwark and 262 affordable homes as part of an 854-home masterplan at Royal Eden Docks in Newham.
Darragh Hurley, chief executive officer of Mount Anvil, said: “We have a shared commitment to working with local communities to provide high-quality new homes and places, and we have a track record of working in partnership to overcome the inevitable bumps in the road that come with working on complex central London estates.”
According to HACT, which measures social value, Mount Anvil and Riverside are forecast to deliver over £4.5m in social value for the Isle of Dogs alongside local partners.
Jehan Weerasinghe, managing director of One Housing, part of The Riverside Group, said: “It is great to have a partner that supports the volume of resident involvement we have been and are undertaking.
“Throughout our relationship as partners to date, we’ve benefitted from a true delivery partner that cares deeply about the long-term future of London and its people, and is helping us to deliver on our values and vision for our residents.”
Riverside, which currently has a G2/V2 rating with the English regulator, announced earlier this year that Paul Dolan will take up the top job this month.
Sign up for our development and finance newsletter
Already have an account? Click here to manage your newsletters
