This week sees the completion of the first apartment,which will be used to set exemplary quality standards, in a new £70m development by East Thames Group and First Base in Stepney Green.
Sandwiched between Shoreditch, Whitechapel and Limehouse, it is hoped that the new development designed by Levitt Bernstein, will help bring the area out of the shadows of its better-known neighbours.
The first of the 462 homes, which will be built in three urban blocks around landscaped courtyards, are due to be available in December 2012. Almost half will be available on the open market, with the other half offered for shared ownership and affordable rent.
According to East Thames director of development and asset management,Geoff Pearce: “The homes are being built to the highest standard and building on the character of the area. They will be generously sized, have extensive outdoor space and exceptional fittings like quartz work
tops in the kitchens. But real quality is about getting the details right – good lighting, quality finishes, seamless painting – and this benchmark apartment is spot on, setting the tone for the rest of the homes.”
First Base director Barry Jessup, commented: “The area represents fantastic value for money, and is one of the last uncovered gems on the eastern fringe of the city. But it’s unlikely to stay that way for long. We’ve seen the evolution of Shoreditch and Hackney based on both housing developments and the boom in technology and creative industries. We believe this housing development is just one of the catalysts for a similar trend in Stepney Green.”
Working with contractor Wates Living Space, the scheme will meet Code for Sustainable Homes Level 4, and be built using modern construction methods to ensure the on-budget delivery of high quality homes.
The scheme is being delivered as part of the wider £200m regeneration of the Ocean Estate, which is being led by the East Thames Consortium in partnership with Tower Hamlets Council.
The regeneration project, which has been funded through the sale of sites for new housing and a £42m Homes and Communities Agency grant, completes in 2014. It will see over 1,200 social rented homes refurbished, 819 new homes built, and significant improvements to landscaping and community facilities in the area.
East Thames is also working with its partners to offer employment, training and involvement opportunities to local residents.
