An east London council has set up a new venture to build 3,000 homes for private rent, the first scheme of which got underway this week, using an innovative off-site system designed by Rogers Stirk Harbour.
This will make Newham Council the first local authority to deliver a large programme of private rented homes for residents. To finance the early stages of the programme of development, the council will provide loans to Red Door Ventures.
The Tanneries on the Leather Gardens estate in Stratford will be the pilot scheme for Red Door Ventures. Rogers Stirk Harbour, whose previous projects include the British Museum and Heathrow Airport’s Terminal Five, is responsible for the innovative design. The development will contain 36 two-bedroom properties, with each apartment consisting of two fully finished pods manufactured off site. As the pods arrive they will be assembled into four and five-storey high buildings. The entire build programme will take just six months.
Rogers Stirk Harbour is responsible for the innovative design
Over the next 13 years, Red Door Ventures will build at least 3,000 new homes in Newham. The council-owned company will also acquire a further 500 existing properties. All the homes will be available for residents at market rent or below with a third of the homes set at affordable rent subsidised by the council with plans to increase this. Other schemes will be put out to tender.
Robin Wales, mayor of Newhamm said: “Red Door Ventures will provide a new offer in the private rented sector – stable, reliable and high quality homes for residents to rent from a trustworthy landlord. It will also make a significant local contribution to alleviate London’s housing crisis. Once the scheme is established, I want to be more ambitious and ensure the council subsidises at least half of the homes at affordable rent or below so they are within the means of residents on low incomes. This would be a much bigger proportion of truly affordable homes than anywhere else in London.”
