Over 700 affordable homes will be built in the first phase of a major housing scheme in Enfield, north London.
Phase one of the £3.5bn Meridian Water development will provide 725 homes, including 25%-30% affordable housing, with the exact percentage subject to viability.
The scheme will eventually create 10,000 homes and 6,700 jobs on a waterfront setting in Edmonton over the next 20 years.
Enfield Council’s Cabinet Member for Housing and Housing Regeneration, Cllr Ahmet Oykener, said:
“This is a hugely exciting time and this transformational project will make a huge contribution towards tackling the shortage of housing in our borough.”
The development plans also include the creation of a new Meridian Waterrailway station, retail spaces, community and leisure facilities and associated infrastructure.
The Enfield Council approved the first stage of the development on Tuesday, 26 July but because of its scope, the project will now be referred to the Greater London Authority to grant planning permission.
Construction on phase one will begin in the spring of 2017, with some homes ready, and the new station being open, in 2018. The council aims to complete the development within 20 years, but it is a phased development, so it will emerge over time.