Taylor Wimpey/L&Q passed key Olympics housing baton

Given all the hullabaloo surrounding the selection of anchors for both the Olympic press and broadcast centre and the Olympic Stadium, it is easy to forget that another important decision was made at Tuesday’s Board meeting of the London Legacy Development Corporation.
I can reveal that Taylor Wimpey and London & Quadrant have been picked to build the first 800 homes at east London’s Olympic Park outside of the Athletes Village. It’s clearly a great and exciting win for the partners. But it’s a significant one for east London too. Their development will set the template for the Olympic Park housing and hopefully set in motion residential development that brings true regenerative benefits to the area from the Games. Here is the news story I have published on this.

The London Legacy Development Corporation is understood to have selected the housebuilder partners for the Chobham Manor scheme located between the Athletes’ Village and the VeloPark at its Tuesday Board meeting. The scheme will comprise 800 homes with 70% set aside for family housing.

Taylor Wimpey and L&Q were shortlisted alongside East Thames with Countryside Properties and Barratt Homes with Le Frak Organisation

Those bidders were chosen following proposals from six bidders who were longlisted in December of last year.

It is understood that Taylor Wimpey and London & Quadrant will be officially named once the tendering process completes next week so that work can begin as soon as the Games finish in order for the first homes to be ready at the end of 2014.

The partners were selected at the same meeting that the Mayor of London and the London Legacy Development Corporation finally confirmed iCITY as the sole preferred bidder status to become the long-term tenant of the Olympic media centre.

The Legacy Corporation also confirmed bids from West Ham United, Intelligent Transport Services in association with Formula One, UCFB College of Football Business and Leyton Orient had been received to occupy the Olympic Stadium post Games.

Chobham Manor will offer a mix of terraced housing, mews housing and duplex apartments within tree lined avenues, streets and open squares. It will sit adjacent to the Athletes’ Village which will be converted into 2,800 flats after the 2012 Games.

Around 30% of the homes will be affordable housing with local people targeted through local authorities and housing associations.

A Community Land Trust could be part of the affordable housing offer giving a non-profit community-based organisation the opportunity to provide permanently affordable homes for long-term community benefit.

Families in the new homes and surrounding communities will be supported by a walk-in health centre, two nurseries, two multi-purpose community spaces, neighbourhood shops and the nearby Chobham Academy school.

In total, the Legacy Company is aiming for up to 35% affordable housing across the 500-acre Park – in line with the Mayor’s London Plan.

Chobham Manor is one of five neighbourhoods to be developed on the Queen Elizabeth Olympic Park, with up to 8,000 new homes being built over the next 20 years, in addition to East Village.

The six bidders that were longlisted in December were: East Thames and Countryside Properties; Barratt Homes and Le Frak Organisation; St James Group Limited (Berkeley); Swan Housing Association, Urban Splash, Yoo & Mace; Notting Hill Housing, United Housing and HTA; Taylor Wimpey and London & Quadrant.

The London Legacy Development Corporation declined to comment.

pnorman@costar.co.uk

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About Paul Norman's Olympics blog

News Editor of CoStar News, a commercial property news service. Regular blogger on the London 2012 Olympics and what it means for property and the the regeneration of East London
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