Jul 7 2006
Work has started on a pioneering development which will see the first new affordable homes for key workers being built as part of the London-Wide Initiative.
First Base, the residential-led urban regeneration developer, and English Partnerships, the Governments national regeneration agency, joined Housing and Planning Minister Yvette Cooper in marking the start on site at Adelaide Wharf in Shoreditch. Adelaide Wharf is a mixed use development including 147 homes, of which more than half will be affordable homes, including a significant proportion dedicated for Key Workers.
English Partnerships launched the London-Wide Initiative (LWI) as a pilot to fast-track more quality affordable homes in Greater London. The pilot scheme, based on 15 English Partnerships owned sites, will deliver up to 4,000 homes over the next five years of which around 1,500 will be for sale at discounted prices or homes for sale for Key Workers and First Time Buyers.
Adelaide Wharf is the first of these schemes and is due to be completed in the summer of 2007. Comprising 74 key worker and affordable homes, and 73 private homes, with no visible difference between tenures, Adelaide Wharf will be a high quality, extremely well thought out and sustainable development, 30% of which will be three and four bedroomed family homes split across all tenures. The development will also include 700 sq m of affordable workspace that will be assigned to a community run regeneration agency. It exemplifies the First Base approach to housing development that aims to transform urban spaces and build communities.
First Base will utilise Modern Methods of Construction throughout and sustainable products in the manufacturing process to deliver a development that is high quality and good value for money. Adelaide Wharf is expected to achieve an EcoHomes Excellent and Lifetime Homes accreditation.
Commenting on the development and official commencement of works, Yvette Cooper, MP, Minister for Housing and Planning said, "We need to build more homes across the board for the next generation - more market housing, more social housing and more shared equity housing - to help first-time buyers and reduce overcrowding too.
"New developments must be truly mixed communities including affordable homes to rent and buy as well.
"Adelaide Wharf is a great opportunity to fast track affordable housing in the city where more homes are needed."
John Callcutt, CEO English Partnerships, said, Providing affordable homes for key workers in the capital is the primary aim of this project. I congratulate First Base on bringing forward not only a well designed scheme but one which will provide high quality new homes where key workers will want to live and will be able to afford to live.
Elliot Lipton, managing director of First Base, said, We are delighted to be pushing ahead with the first London-Wide Initiative project with English Partnerships.
The London-Wide Initiative demanded a greater supply of better quality housing for Key Workers and First Time Buyers and First Base is in a position to deliver. Our business proposition is to challenge standard practices. By harnessing international and commercial best practice and applying them to the UK housing sector, we can deliver higher quality homes offering improved value for money.
Adelaide Wharf is not just another development, it will be a community with spirit, with strong management including common standards of maintenance, a mix of tenures and incomes and a sense of safety and security for all residents. This is an important milestone in the delivery of mixed tenure housing by the private sector and exemplifies the capability of public private partnerships.
The ground-breaking ceremony was celebrated at a reception held at The Tannery, Laburnum Street, a neighbouring art studio. First Base will be commissioning artists from The Tannery to create art for Adelaide Wharf.