Plans for 1,200 new East London homes given the go-ahead

02 2008
Professionals looking to benefit from affordable rents in London are likely to welcome the news that a new £4 billion development proposal for Stratford has been given the green light.

The project, which has been put forward by the Australian firm Westfield, will involve the construction of 1,200 new houses and flats, three hotels and in excess of one million square feet of office space, all in time for the 2012 Olympic Games.

As well as getting the approval of local officials, the plans are also set to be given the prime ministerial green light within the coming days, company chairman Frank Lowy has revealed.

He explained: "The £1.5bn Stratford City retail and leisure development has both scale and significance, serving as a gateway to the Olympic Park and delivering real momentum to the regeneration of east London.

"We anticipate significant transformation flowing from the 2012 Olympics with Stratford City becoming the metropolitan centre of east London."

Like other parts of East London, Stratford is popular with young people as it boasts affordable rents as well as good transport links to the job opportunities in the city centre.
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