McAleer & Rushe has been appointed to deliver a 6-bed purpose-built student accommodation (PBSA) scheme in the City of London.
The Government’s housing and regeneration agency is injecting money into the Barking Riverside development to unlock more homes and deliver new ‘state-of-the-art infrastructure’.
The mixed-use development is a 443-acre brownfield site formerly occupied by Barking Power Station, and is one of Europe’s largest placemaking projects.
The funding is a combination of loan and grant funding and will help master developer Barking Riverside Limited (BRL) to prepare the land including flood defence work and the construction of an energy centre and parks.
This infrastructure will help unlock 16,500 homes on the site, to complement the 3,500 already built or under construction by housing association, L&Q, and housebuilder, Bellway.
The development will provide:
- 20,000 new homes (community of up to 50,000 people)
- 35 per cent affordable family homes
- Enhanced green spaces
- 7 new schools
- Better access to the River Thames
- Increased retail, employment and community space
The site’s current planning consent for 10,800 homes was approved by the London Borough of Barking and Dagenham in 2008.
Transport infrastructure to unlock the initial 10,800 homes has already been completed following a previous funding commitment from Homes England in 2020.
Last year, Morgan Sindall was appointed by TfL to deliver the new London Overground station at Barking Riverside.
Future homes built at Barking Riverside will be powered by a low carbon District Heating Network.
The funding packages comes as Barking Riverside Limited announced the appointment of architects Bell Phillips to work on the Sub Framework Plan for Stage 3 North which will deliver over 1,000 new homes in the Northgate neighbourhood.
Tom Copley, deputy mayor of London for housing and residential development, said: “Barking Riverside is an exemplary new town that is transforming east London with state-of-the-art new homes, community facilities, transport links and green spaces.
“I’m delighted that £124 million has been secured to help unlock 20,000 new, high-quality homes.
“This will help support the mayor’s plans to boost homebuilding across London and build a fairer, more prosperous city for everyone.”
Fiona Fletcher-Smith, CEO at L&Q said: “With demand for affordable housing soaring, housing associations like L&Q are essential to delivering solutions — but real progress depends on government support.
“That’s why this investment is so important: it allows us to do more, faster, and at a scale that truly meets the needs of local people.
Matthew Carpen, Managing Director of Barking Riverside, said: “We are excited to make our new masterplan a reality, which would not be possible without a number of important partnerships.
“Fundamentally, this funding from Homes England ensures that Barking Riverside can remain delivery-focussed and resilient despite a challenging market.”
Was this interesting? Try: McAleer & Rushe secures 670-bed London PBSA
If you have a tip or story idea that fits with our publication, please contact the news reporter miles@wavenews.co.uk
Get industry news in 5 minutes!
A daily email that makes industry news enjoyable. It’s completely free.