Developer Waterside Places, a joint venture between Morgan Sindall subsidiary Muse Developments and the Canal & River Trust, has secured project funding from private residential landlord Grainger, enabling construction to start in early 2019.
Grainger has agreed to forward fund and acquire 108 private rented sector (PRS) build-to-rent flats at Hale Wharf for £41m.
Nigel Franklin, chairman of Waterside Places, said: "We're delighted to conclude the deal with Grainger plc, which forms part of the first phase of development at Hale Wharf, Tottenham. Hale Wharf is an exciting development at the heart of one of the Mayor of London's housing zones. Once complete, the wider scheme will deliver up to 505 high-quality, canal-side homes, extensive public realm improvements, along with a range of commercial and leisure space."
Grainger chief executive Helen Gordon, of, said: "We are pleased today to announce our latest investment in Tottenham Hale, one of our target London locations, which will deliver 108 new high quality, purpose built rental homes and complement our Apex House development close by in Seven Sisters."