Alternative living developer and operator Re:shape has acquired a second site in Woolwich, SE18.
The £25m GDV site adjoins the site Re:shape acquired in February that was previously controlled by Legal & General.
Re:shape’s proposal for the £500m GDV scheme will include at least 918 student beds, 410 co-living homes, and 100 affordable homes, including townhouses.
The project commits to targeting 40% affordable housing on a habitable room basis while preserving the historic Electric Works building fronting a public square.
The firm, led by founders and The Collective alumni Jermaine Browne and Charlie Gayner has also unveiled a first look at its schemes in Bethnal Green, E1, Watford and Salford.
It is holding a public consultation on its plans for a 222-bed co-living project in Bethnal Green comprising maker space, retention of a former brewery building and a 40% affordable housing offer.
Re:shape’s proposal in Watford Junction includes a 230-bed co-living scheme with community facilities, and a 413-bed co-living project with more than 80 discount market rent homes on the bank of the River Irwell in Salford, Greater Manchester.
The four projects in Woolwich, Salford, Watford and Bethnal Green have a GDV of almost £1bn. Re:shape has previously said it is seeking an institutional partner to forward fund the schemes.
Browne said: “The demand for alternative living options, urgent housing delivery and genuinely affordable social homes has never been more pressing in the UK. As a recent entrant into the market with a clear mission to create new sustainable rental housing solutions for younger generations, Re:shape is dedicated to enhancing the built environment, expanding housing choices for all salary levels, and showcasing the pivotal role SMEs can play to address national priorities.”
Send feedback to Akanksha Soni
Follow Estates Gazette
