Housing association Poplar Harca has launched a search for a joint venture development partner for a £1bn estate regeneration at the Teviot Estate, E14.
Poplar aims to develop 1,800-2,500 homes on the Teviot Estate in Poplar, Tower Hamlets, in a development with an end value of between £682m and £940m.
The larger development would include the remodelling of Langdon Park and development of adjacent land including the Baptist church at the corner on Zetland Street.
New homes would be a mix of flats, maisonettes and houses. The scheme would also include provisions for Tower Hamlets Council to potentially include land for development at a later date. It is estimated that the project will run for 15 to 20 years.
Poplar has already consulted with residents on the estate. In a ballot of 617 residents last year, representing 81% of the community, 86% voted in favour of the regeneration. This means the project is eligible for grant funding from the mayor of London.
Planning regulations specify that new developments will be required to deliver the same number of social rent homes and ensure that 35% of the additional homes should be social and affordable rented.
Developers will be able to lodge tenders for the contract before 1 April, with Poplar expecting to select a shortlist of five candidates by 1 May.
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