Out-Law News | 29 Jan 2014 | 3:23 pm |
The 750,000 square foot scheme is a partnership between BT and Telereal Trillium and will see the existing Keybridge House demolished. 419 flats, a primary school and 26,500 sq ft of office space, as well as retail units, will be constructed on the site, as will 19 affordable homes.
Lambeth Council leader Lib Peck acknowledged that the affordable housing provision fell short of the Council's usual expectations but the inclusion of a primary school within the scheme offset this.
"Robust and independent viability assessments show that this is actually a good deal for local people, and allows us to plan sensibly for future pressure on school places," Peck said. The expectation is that the scheme will be sold to a developer later this year.