Tower Hamlets is one of four councils Mayor of London Boris Johnson recently announced would be given extra help to build housing.
The other three boroughs – Havering, Enfield and Redbridge – will, together with the East End authority, deliver a total of 12,000 new homes in the east and north of the capital – nearly 3,500 of which will be affordable housing.
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The Mayor’s office has contributed £162million in funding to a Housing Zones scheme, which includes areas in 15 boroughs across Greater London.
Poplar Riverside Housing Zone will initially provide 3,034 new homes and 448 affordable homes over its two phases
Within the Lower Lea Valley Opportunity Area (another of the zones) 3,000 new jobs, two new primary schools, a local park and four new footbridges over the River Lea will be delivered.
Work has already started with the regeneration of the Aberfeldy Estate.
Mayor of Tower Hamlets John Biggs said: “Over the years, Poplar and the Lea Riverside will be completely transformed. Receiving such a large amount of funding from the GLA to build much-needed housing in Tower Hamlets is a real achievement for the borough.
“Of course we need to get the detail, including the infrastructure, right. And connectivity between Tower Hamlets and Newham will be greatly improved by the work going on at Poplar Riverside.
“This will place Poplar firmly on the map of London – and will deliver real benefits to the people of Tower Hamlets.”
The zone scheme has been designed to help the Mayor reach his target of building nearly half a million homes over the next 10 years.
The announcement was made on June 25 at a London First event hosted by BNP Paribas Real Estate.