Lend Lease鈥檚 masterplan for the transformation of the Heygate Estate in Elephant & Castle has been given the green light by Southwark council
The council last night gave the Make-designed Heygate Estate masterplan outline planning permission.
The scheme comprises one of the largest new housing developments in zone 1 London and is a key part of the 拢1..5bn regeneration of Elephant & Castle.
The scheme is aiming to deliver approximately 2,500 new homes by 2025, as well as shops, restaurants, community facilities, and central London鈥檚 largest new park in 70 years.
The development will deliver a minimum of 25% affordable homes, plus extensive new publicly accessible space comprising parks, squares, streets and gardens.
Mark Dickinson, managing director of Lend Lease鈥檚 EMEA development business, said: 鈥淭he 拢1.5bn regeneration of Elephant & Castle is now underway.
鈥淭he approval of our masterplan vision sets in motion our long-term plans and our commitment to the area. We鈥檝e set out our blueprint for the future but there is a lot of detailed work to undertake and we鈥檒l continue working with the community at every step.
鈥淎t the heart of everything we do is the desire to create a sustainable place to live. A truly sustainable environment needs to bring economic benefits, support business growth and local job creation.鈥�
Peter John, Southwark Council leader, said: 鈥淭he Planning Committee鈥檚 decision to approve the masterplan and endorse our vision for Elephant & Castle is a watershed moment for the borough.
鈥淲e now have the opportunity, working with local people and our partners Lend Lease, to continue the transformation of the area as a place where people want to live, work, shop and relax.
鈥淭he regeneration of Elephant & Castle will take time, but this announcement, and the starting of work on a brand new leisure centre, are all crucial steps towards a greener, safer and more attractive place in central London that people will be proud to call their home.
鈥淚t is so exciting to see this vital project gain momentum so that people will finally begin to see those much needed improvements being made on the ground.鈥�
Last November Lend Lease was granted planning permission for One The Elephant, a 37-storey residential development of 284 homes, also located in the heart of Elephant and Castle.
One The Elephant will be amongst the first new homes delivered in the regeneration by Lend Lease, targeted for completion in 2016
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