Southwark Council is poised to approve Notting Hill Housing as its preferred development partner for the multi-million pound regeneration of the Aylesbury Estate.
The affordable-housing provider’s “Walworth Unlimited” bid was due to be endorsed as Southwark’s first choice by the borough’s cabinet on 28 January.
Fiona Colley, Southwark’s regeneration lead, said the 4,200-home scheme would be one of the largest regeneration projects the capital had ever seen, attracting people, jobs and investment from across London to create a fairer future for the borough's residents.
“The Aylesbury Estate is unique: There is no other neighbourhood of a comparable size, located so close to the heart of the city, in need of regeneration and with such a committed, active community,” she said.
“Southwark Council is committed to the regeneration of the Aylesbury Estate and to the vision expressed through our Aylesbury Area Action Plan.
“Following an 18 month procurement process, cabinet will now consider the selection of Notting Hill Housing (Walworth Unlimited) as the council's preferred partner to deliver this unique and exceptional project."
Southwark said that a stipulation for the regeneration project was that any successful development partner provided a minimum of 50 per cent affordable homes, three-quarters of which would be for social rent and the remainder for shared ownership.
It added that a consortium bid from L&Q, Countryside, and Peabody was being recommended as a “reserve partner”.
A new website for the local community, which explains the council's plans for the regeneration of Old Kent Road, has been launched