Firm plans 1,000 new London homes a year
A property developer is planning to help ease London's chronic housing shortage by selling up to 1,000 new homes a year directly to the public.
The first batch of new homes, part of Elephant and Castle's £1.5bn regeneration scheme, is expected to go on sale in the first half of 2013.
Property and infrastructure specialists Lend Lease are planning to build 284 units in the 37-storey St Mary's Tower, according to the detailed planning application submitted earlier this summer.
The development is the first part of plans to add 2,800 homes in the Elephant and Castle area over the next decade.
Lend Lease signalled their commitment to sustainable housing by promising net zero carbon growth on the development.
The company said it hoped to make up to 1,000 new homes a year available under its own brand by 2017.
Dan Labbad, Lend Lease's chief executive in Europe, said: "There is an acute shortage of new homes in London and we believe that we have the capability to take advantage of a unique market opportunity."
Copyright Press Association 2012
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