A joint venture of Long Harbour, PSP Investments and Cadillac Fairview is investing in the construction on 495 flats for private rent on Selbourne Road in Walthamstow town.
Long Harbour recently acquired the site from Capital & Regional, which owns the shopping centre next door.
The built-to-rent (BTR) development will consist of 495 one and two-bedroom flats within two towers of 34 and 26 storeys. The towers will be connected by an ground floor entrance and amenity space.
The development will also have resident amenity spaces on the upper floors, including a lounge, shared kitchen area for events, and a roof terrace, with private balconies for each apartment.
Capital & Regional also has planning consent to extend its shopping centre, 17&Central. These plans also include a new entrance to Walthamstow Central Station in the future, public realm improvements.
Volumetric modular developer Tide Construction will deliver the scheme, under a £165m contract, using its Vision modular system. Work on site will start imminently and is expected to complete by summer 2025.
“This is an excellent example of how build to rent development can enhance footfall and diversify uses in town centres,” said Long Harbour chief operating officer James Aumonier.
Tide Construction chief executive Christy Hayes said: “We are partnering with Long Harbour on this substantial development to deliver high-quality homes efficiently and sustainably. Using the innovative technology of Vision Modular systems will enable us to reduce the carbon emissions associated with the construction process and minimise construction logistics, supporting our partnership’s strong environmental, social and governance credentials.
“The flexibility of our volumetric system also allows Tide and Vision to fulfil the design brief within this town centre build to rent scheme which further highlights our company’s strong track record of revolutionising the way in which housing is delivered in the UK, demonstrating the potential of modular as a mainstream method of construction.”