Construction jobs to be created due to £200 million regeneration
Hundreds of construction jobs are to be created as the East Thames Consortium has been selected as a development partner for the £200 million Ocean Estate regeneration in east London. The project will involve demolishing 342 homes in order to build 800 new ones, with half of the properties being built for affordable rent and shared ownership.
The regeneration will be made up of the East Thames Group, Wates, Bellway Homes, First Base and Spitafields Housing Association. The teams will work in Mile End for Tower Hamlets Council, and each team will be employing a number of construction and engineering workers to help create the huge scheme.
A new town centre, retail spaces and community facilities will also be built, as well as other external refurbishments to the blocks on the estate.
Tower Hamlets Council lead member for housing and development, councillor Marc Francis, said: "We are pleased to announce East Thames Consortium as our partner for the Ocean. We are determined to see this scheme go ahead and this decision is a significant step forward for Ocean’s regeneration plans. There will be a series of key milestones that need to be achieved over the next few months, and every one of them takes us one step closer to construction starting on site so we can deliver the new homes."
The project started last month, and will be due to finish in 2014.