English Cities Fund has secured £13m of funding to enable work to begin on the £180m Rathbone Market development in east London.
The Homes and Communities Agency (HCA) has provided the funding for the project which proposes 650 homes in the centre of
The 680,000 sq ft scheme will be one of the first sites to be developed within the overall masterplan for the
Cash for the scheme had previously been at risk following funding cuts by the coalition government.
Newham council will work with English Cities Fund, its development partner at Rathbone Market, to take the scheme forward.
Councillor Conor McAuley, executive member for regeneration and strategic planning said: “This is excellent news for residents and traders in
“We have been working very hard with our partners and developers to secure the future of the project. The plans will radically transform the area into a thriving place of choice for existing and new residents and businesses.”
Duncan Cumberland, development director at English Cities Fund, said: “This is a real milestone for this project. Contractors will begin enabling works in the next few weeks and we are currently targeting completing the first new homes at Rathbone Market in 2012.”
English Cities Fund is a consortium made up of Mews Developments, Legal & General and the Homes and Communities Agency.
paul.norman@estatesgazette.com
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