English Cities Fund reveals Canning Town plans
The English Cities Fund has revealed plans for a large residential-led scheme, known as Manor Road Quarter, in Canning Town, E16. Around 800 homes across eight buildings with towers of 19 and 33 storeys are proposed.
The ECF is a partnership between Homes England, L&G and Muse. Earlier this year it announced plans to double in size, with £200m in financial backing to work with local authorities on large, complex regeneration projects around the country.
The original partnership was set up in 2001 to act as regeneration vehicle that could take a far longer-term view of sites, and not be driven solely by investor returns. It was thus able to target schemes in need of regeneration but off the private-sector radar.
The English Cities Fund has revealed plans for a large residential-led scheme, known as Manor Road Quarter, in Canning Town, E16. Around 800 homes across eight buildings with towers of 19 and 33 storeys are proposed.
The ECF is a partnership between Homes England, L&G and Muse. Earlier this year it announced plans to double in size, with £200m in financial backing to work with local authorities on large, complex regeneration projects around the country.
The original partnership was set up in 2001 to act as regeneration vehicle that could take a far longer-term view of sites, and not be driven solely by investor returns. It was thus able to target schemes in need of regeneration but off the private-sector radar.
The current site is a retail park with occupiers including Carpetright, Wickes and HSS Hire. There is a large surface car park.
The site was acquired from the GLA, which bought it in 2011 for £8m.
A spokesperson for ECF said: “Manor Road Quarter is an exciting new development that will see 800 new homes being delivered in Canning Town and will provide 50% affordable housing. It will also include a new linear park, commercial space and improved pedestrian and cycle routes.
“The proposals will be developed over two neighbouring sites. The English Cities Fund owns one of the sites, while the other is owned by the GLA, which has agreed to see the site brought forward as one comprehensive redevelopment.”
Last year ECF completed on Rathbone Market, a short distance from Manor Road. The previous Canning Town scheme was built out in three phases from 2010 and comprises around 740 homes.
In total, the partnership set up in 2001 with an initial £100m fund has built out five schemes with a total value of £1.6bn. It has secured more than £800m in third-party investment.
Other ECF schemes include sites in Manchester, Liverpool, Wakefield and Plymouth.
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