Mace secures Greenwich project contract
Developer Hadley Mace has secured the £250 million contract for the construction of a mixed-use scheme in east Greenwich that will boost employment in the area and provide homes and retail space for local inhabitants.
The joint venture with Hadley Property Group will see the creation of 645 new homes in Greenwich over the coming years, as well as a new library, leisure facilities, NHS health centre and a new community centre.
In addition, the project will provide a major boost to retail in the area, with the first phase of the scheme aiming to be completed by late 2014. Full completion of the project is then set for up to three years after this initial deadline.
David Grover, director of Hadley Mace, said: "This leading scheme will demonstrate the benefits of public private consortium and its impact on a community that has been anticipating investment and re-development for more than ten years.
"The partnership between Hadley and Mace came about as a response to the Home and Communities Agency's quest to find a new way of regenerating neighbourhoods with fresh, innovative thinking and creative investment."
Nearly half of the new residential properties being created at the development are to be affordable homes for local buyers, with a focus on ensuring the project attracts a wide cross-section of Londoners.
The final plans were approved by London mayor Boris Johnson on Friday (November 23rd).
Elsewhere, the stalled mixed-use Southreef development on Canal Street in Nottingham has now been brought back to life, as the renamed Nottingham One project.
Work on the £40 million scheme is set to resume in January after it was halted back in 2010 due to a lack of funds. Having been stalled for so long, Nottingham City Council is now eager to see completion of this longstanding project and as such, it has set a deadline for the end of next year.
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