Enfield Council and Vistry Partnerships have completed a development agreement which will see at least 250 affordable homes built on the next phase of the borough’s transformational Meridian Water programme.
The development agreement which was signed on Wednesday 20th October will mean all the homes on the site of the development – known as Meridian Two, will be affordable with half offered at London Affordable Rent and the other half offering shared ownership and homes at London Living Rent levels.
The scheme will also provide 3,000 square metres of commercial space which the Council hopes will become a hub for creative industries. An operator will be appointed to manage the space in the near future.
The Leader of Enfield Council, Cllr Nesil Caliskan, said: “This is great news for Enfield and its residents, we are forging ahead with Meridian Water and making rapid progress to provide a range of housing for local residents.
“Meridian Two is important because every home will be genuinely affordable homes for Edmonton residents and those across the borough.
“The site is adjacent to the area that is intended to become a new park at Meridian Water. This will be a fantastic feature alongside the new homes. I am looking forward to seeing the construction progress quickly and to residents moving in.”
Meridian Two is on Leeside Road, next to Pymmes Brook and adjacent to the next phases of Meridian Water, which includes up to 2,300 homes and extensive parkland. With this being the second Development Agreement entered into on Meridian Water, the project now has 1,200 homes under contract to be delivered.
Vistry Partnerships were selected as the preferred bidder last year following a competitive process through the Greater London Authority’s London Development Panel 2. The GLA is also providing grant funding to enable the scheme to be taken forward.
On completion of the homes by Vistry Partnerships, the properties will be acquired by Metropolitan Thames Valley Housing, a Registered Provider who will own and manage them.
Subject to a detailed Reserved Matters Application being approved, work on building the first homes is expected to start in the middle of 2022 with the first dwellings and workspace expected to be completed in 2024.