Transport for London (TfL) has selected the London housing association Optivo to deliver 156 new homes in Tower Hamlets.
The G15 landlord says that the development, set to be built next to Bow Church DLR station, will include at least 50% affordable housing.
Optivo was chosen to bring the site forward via the Greater London Authority’s London Development Plan 2 (LDP2) framework, which comprises of 29 trusted housing organisations.
The deal marks the first time that Optivo will work with TfL on boosting the number of new homes in the capital.
Paul Hackett, chief executive of Optivo, said: “We’re delighted to have been selected by Transport for London to work with them for the first time together on this site and we’re committed to building the homes that the capital desperately needs.
“We’re determined to do all we can to tackle the housing crisis in London by bringing high quality, affordable homes to local communities.”
As well as providing the 156 new homes, the plans for the new development also include proposals to improve the public realm in the nearby area.
Proposals include improved landscaping, facilities to encourage sustainable modes of travel such as walking and cycling, and new commercial space to support the local economy.
Optivo will now start detailed design work and consult with the local community about the development before submitting a planning application.
Jonathan Cornelius, head of property development at TfL, said: “We’re excited to be working alongside Optivo at this prime location in Bow. Working together, we hope to provide new affordable homes as well as improvements for the local community, such as new commercial space to support the economy.
“This is another example of our housing programme’s progress – with work having started on almost 1,500 homes and thousands more in the pipeline. Through partnerships such as these, we are delivering thousands of new affordable homes, creating thousands of new jobs and generating vital revenue to reinvest in the transport network.”
Optivo is one of the UK’s largest housing providers and a member of the G15 group of London’s largest housing associations. The housing association owns and manages over 45,000 homes across London, the South East and the Midlands.