Thamesmead South (phase 1), Bexley
In November 2016, the Mayor approved the demolition of 226 homes on Bexley's Southmere site of the Thamesmead estate, to be replaced by 1,622 new homes of which 67 intermediate and 168 affordable rent of up to 80% market rent.
This is the first phase of 'Thamesmead South' - Peabody's redevelopment of the Bexley side of the Thamesmead estate. The next phase is Thamesmead East - the 'Wolvercote road' area.
Bexley's Growth Strategy envisages 4,000 new homes in the Thamesmead area facilitated by the new Crossrail station and including the 'renewal' of existing estates.
Peabody has partnered with Australian developer Lendlease (Heygate estate regeneration) to deliver 11,500 homes in Thamesmead over the next 30 years.
Unlike in some cases, the Mayors report is clear that the replacement 'social' housing at rent levels of up to 80% market rent:
The section 106 agreement agreement says that Peabody should 'endeavour' to provide 35% affordable housing across all phases but only secures a minimum number of units in the first phase, namely 67 intermediate and 168 affordable rent of up to 80% market rent.
Links:
Peabody's 2017 consultation documents for the scheme.