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Homes England has approved a GBP 124 million (US$ 158.6 million) funding package for infrastructure development at Barking Riverside to support 20,000 home development in east London.
Barking Riverside, a 443-acre brownfield site, upon completion the new mixed-use development will provide affordable family homes, enhanced green spaces, 7 new schools, and better access to the River Thames, as well as a significant amount of retail, employment, and community space. The funding agreed by Homes England is a combination of loan and grant funding and will help master developer Barking Riverside Limited (BRL), a partnership between L&Q and the Mayor of London to prepare the land including flood defense work and the construction of an energy center and parks. This vital infrastructure will help make it possible to build another 16,500 homes on the site, to complement the 3,500 already built or under construction by a housing association, L&Q, and housebuilder, Bellway. This could see up to 20,000 new homes in total delivered at Barking Riverside, creating a community of up to 50,000 people.
Homes at Barking Riverside will be powered by a low-carbon District Heating Network, which provides heat and hot water through an underground system, replacing traditional gas boilers. The development will also feature seven new schools, with five already completed, including two primary schools, a secondary school, and a Special Educational Needs (SEN) school. |
