Vistry Partnerships and Enfield Council in the UK, have signed a development agreement for the first phase of the £6bn Meridian Water development.
Vistry Partnerships, recently renamed from Galliford Try following its acquisition by Bovis Homes, will oversee the development of 900 new homes at Meridian One. Enabling works for the £250mn first phase are set to begin this spring.
Meridian Water is a major £6bn, 20-year London regeneration programme led by Enfield Council, bringing 10,000 homes and thousands of jobs to Enfield, north London, next door to the beautiful Lee Valley Regional Park.
Alongside beautiful homes and world class public spaces and community facilities, the development will have its own new railway station, unlocking the area for commuters, with better connections south to Stratford and London Liverpool Street and north to Stansted and Cambridge.
The Council is taking control of the vision for Meridian Water and overseeing its delivery, which is based around three pillars: mixing uses and animating streets, park life at your doorstep, your place to make and create.
Half of all the new homes on Meridian One will be built by Vistry Partnerships as affordable housing, 50% of which will be council-owned and provided at London affordable rent levels; the remaining homes will provide a range of tenures and housing types. The first new homes are expected to be completed in 2022.
Enfield Council leader Nesil Caliskan said: “From the start I made it clear that I wanted the primary beneficiaries of Meridian Water to be local residents and the agreement we have struck with Vistry Partnerships enshrines that guiding principle.
“These will be world class dwellings for families in Edmonton, they will be properties residents will be proud to call homes and this development will be a shining example of how councils can lead major regeneration projects to deliver real benefit for their residents.
“Meridian One will provide a significant number of family homes and a wide range of different types of housing, which will suit a wide range of budgets and lifestyles and reflect our commitment to tackling the housing crisis in Enfield.
“This diversity of housing will play a major role in alleviating the pressure on housing in Enfield and give residents real choice when it comes to choosing what sort of accommodation they want to live in.”