Thames consortium gets �200m East End estate deal
TOWN Hall bosses have signed a �200 million deal for the main contractors to redevelop the biggest public housing estate in London’s East End. East Thames Consortium was the only player left standing to get through to the final stage of the competitive tendering to revamp Stepney’s Ocean Estate, after two other groups pulled out
TOWN Hall bosses have signed a �200 million deal for the main contractors to redevelop the biggest public housing estate in London's East End.
East Thames Consortium was the only player left standing to get through to the final stage of the competitive tendering process by Tower Hamlets Council to revamp Stepney's massive Ocean Estate, after two other groups pulled out earlier this year due to the recession.
So a deal has been ratified by the authority's cabinet.
The bulldozers have already been busy on the estate since the summer, knocking down some of the older 1950s blocks of flats to clear the ground. The regeneration involves demolishing 342 homes to make way for more than 800 new properties.
Remaining blocks are going to be modernised with 780 council flats brought up to date. Included in the scheme are new community and shopping centres around Ben Jonson Road.
The consortium, which includes East Thames Group, First Base, Spitafields Housing Association, Bellway Homes and Wates construction, is putting forward an outline planning application to the Town Hall in the next few weeks, with public consultations early in the New Year. Statutory consultation with affected leaseholders starts this month. A decision expected in March.
