Hundreds of much needed new social rented homes for Londoners at East Village (the new legacy identity for the Olympic Village) Launch of Lettings Strategy for social rented homes to ensure sustainable, mixed community.

The first leading Olympic legacy neighbourhood for London, East Village will be situated on the doorstep of The Queen Elizabeth Olympic Park with more accessibility, space, stability, security and world-class facilities than any other London residential development.

Triathlon Homes, the owner of 1,379 affordable homes at East Village, has announced the Lettings Strategy for the 675 new social rented homes at this exciting new 2,818 home development, providing much needed high quality affordable housing for the capital. These sit alongside a further 1,439 private homes owned by QDD Ltd (a joint venture between Qatari Diar Real Estate Development Company and Delancey).

The Lettings Strategy has been agreed by Mayor of London Boris Johnson, Mayor of Newham Sir Robin Wales, and Triathlon Homes (the joint venture between developer First Base, and housing associations East Thames Group and Southern Housing Group). The Lettings Strategy sets out the vision for ensuring a mixed and sustainable community, helping to alleviate housing need and encouraging moves across London to free up family-sized homes.

Newham Council will be able to nominate for more than half of the social rented homes, the largest amount ever delivered to the borough from one development, with a substantial number of three and four bed homes.

The London Boroughs of Barking and Dagenham, Hackney, Havering, Redbridge, Tower Hamlets and Waltham Forest are also benefitting from access to more than 100 new social rented homes. Triathlon Homes will allocate approximately 150 homes itself, and the Greater London Authority will use its allocation of nearly 70 homes to facilitate moves throughout London for social housing tenants*. To ensure a balanced and sustainable community, many of the homes will be pre-allocated to potential residents shortly after the Olympics are finished, and up to a year in advance of moving in. This is at least six months earlier than usual and is an innovative element of the programme.

“It’s very common for homes for sale to be sold off plan, but for social rented homes it’s unheard of to do this. We want to make sure there is a mixed community at the Village – some families, couples, retirees – and we want to make their move to the Village as smooth as possible which is why we’re pre-allocating the homes,“ explains Geoff Pearce, Executive Director, Triathlon Homes.

Pearce continues: “It means that many people will know by the end of the year whether they have been successful in getting a home and have a moving in date for when they’ll become an East Village resident which is really exciting.” East Village breaks the mould for UK residential development. Home to over 6,000 Londoners, it will combine the vibrancy of city living, with unrivalled outdoor space and world-class facilities, including the soon to be completed Chobham Academy, which will offer first class education to 1,800 students.

The Mayor of London, Boris Johnson, said: “With quality housing and community facilities right on the doorstep, East Village will offer a great new place for people to live, work and study. It is a fantastic example of how the Olympic legacy is unfolding in the heart of East London, benefitting people not just in Newham but from across the capital.”

The Lettings Strategy is ensuring the housing legacy is fulfilled and that the new community is a success from day one. It is aligned with Newham’s proposals to open up social rented housing to those in employment, increasing access to high quality affordable housing for those on lower incomes. For prospective residents who are not employed, the early allocation will facilitate routes to work, by way of skills audits, training and work access programmes, ensuring at least 50% of new tenants will be employed at first let**. Through its allocation, Newham will also identify eligible members of the armed forces that can apply for housing in East Village.

Sir Robin Wales, Mayor of Newham, said: “Our pioneering approach to housing and community policy will reward those that make a contribution to society. We will recognise the efforts of those in work and reward those that have served their country by giving them priority for housing. This new development will ensure that Newham residents benefit from the provision of high quality social rented housing, and East Village will help to leave a lasting legacy after the Games of a strong and more resilient community.”

The further 704 homes owned by Triathlon will be available as a mix of intermediate market rented and shared equity homes, to provide a range of options to help Londoners get onto the property ladder.

The 1,439 private homes available at East Village, largely for rent, are owned by QDD Ltd. and will be ready for residents to move into from 2013. Triathlon Homes and QDD’s long term plans for East Village respond to the needs of Londoners for high quality, longterm homes and will guarantee residents the benefit of a responsible, consistent landlord. This long-term approach will ensure the highest standards of service and internal and external spaces for all East Village residents.

 

*The allocation of social rented homes is currently a forecast. The exact numbers to be allocated to Newham Council, Triathlon Homes, GLA and the other east London boroughs will be finalised in spring 2012.

** The plan recognises that at least 15% of applicants will not be in work as they will have retired, have an illness or disability and are unable to work, or because the tenant is caring for small children or others.