Grosvenor has revised the proposals for its £973m build-to-rent scheme on the site of a former biscuit factory in Bermondsey, SE16, upping the amount of affordable housing.
The revision follows mayor of London Sadiq Khan’s decision to take over determination of the proposals in May after Southwark Council rejected them for providing insufficient affordable housing.
Grosvenor has now agreed to increase the percentage of affordable housing from around 27.5% of the habitable rooms available to 35% at the 12-acre site, which is equivalent to some 482 homes.
To accommodate the extra affordable housing, Grosvenor is increasing the overall number of homes from 1,342 to 1,548.
In order to achieve this, the heights of several of the buildings have been increased, including the tallest tower from 28 to 35 storeys. There is also a circa 14% reduction in the previously proposed 42,786 sq ft of retail space in the new plans.
In addition, the type of affordable provision has been changed from it being entirely at an average 25% discount to market rent to 70% being available at discounted market rents to households earning a total of £60,000 per year and 30% (around 140 homes) being made available to households on the council’s social housing waiting list at equivalent social rent, but without a right-to-buy option.
Owing to the inclusion of social rent equivalent homes within the new plans, the affordable provision will also need to be put into separate buildings from the rest of the housing being provided and a registered provider brought in to manage these new homes. Grosvenor is currently in talks with providers for this.
It is expected that the public hearing on the amended proposals will take place before the end of the year.
If successful, phase one of the development would include 359 rental homes, of which 35% by habitable room would be affordable, as well as the delivery of the new 600-pupil secondary school.
Simon Harding-Roots, executive director at Grosvenor Britain & Ireland, said: “Bringing about positive and lasting change for Bermondsey has always been our focus. However, our first planning application was not good enough. We acted in good faith but it didn’t meet the council’s expectations.
“Since then, we have worked hard to address the clear call from the community, council and mayor to deliver more affordable housing whilst ensuring that the project, and its many other benefits, can become a reality.”
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