UK construction firm Galliford Try has signed an agreement with Greater London Authority to develop the Silvertown Way development in Canning Town, East London.
Under the terms of the deal, the firm will build more than 1,100 mixed tenure homes across a series of individual blocks in the UK capital.
The development scheme has an approximate value of £380m and is the firm’s largest standalone housing deal.
Houses will be set-up across 11 individual blocks on the development site, covering 5.9ha of land area.
Galliford Try will co-ordinate with Thames Valley Housing Association through an existing joint venture.
A third of the homes being developed under the scheme will be allocated for private rental through the housing association’s subsidiary Fizzy Living.
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By GlobalDataThe scheme will also include construction of 380 affordable homes for London and Quadrant Housing Association.
Along with housing space, the programme aism to offer a hotel and a restaurant, as well as employment and commercial spaces.
Linden Homes and Galliford Try Partnerships will be responsible for the development undertaking.
Galliford Try executive chairman Greg Fitzgerald said: "I am delighted that we have been able to work with all the stakeholders involved in this project to reach an agreement, and deliver much-needed new homes for London.
"As well as being a hugely significant project for our company, Silvertown Way will be a flagship regeneration project for East London, and we are committed to providing high-quality housing of all tenures for the local community."
