The government plans to provide funding for the regeneration of Southwark’s Aylesbury estate, as part of a £150 million estates renewal project.
Developer Notting Hill Housing lodged a planning application with the council in October for the project, where up to 3,500 homes could be built. The authority is currently validating the proposals and a consultation period has begun.
The plans cover a detailed proposal for the first development site, as well as an outline proposal for the overall masterplan. If agreed, demolition will begin in 2015 and the regeneration should be completed in 2032.
Speaking about the government’s autumn statement announcement to provide funding for the estate, Councillor Mark Williams, cabinet member for regeneration, planning and transport, said: "This is great news for residents on the Aylesbury and residents across our borough. This funding will allow us and our partners, Notting Hill Housing, to drive forward the regeneration of the area and deliver much needed new homes, affordable homes and green spaces for local residents.
"We have a strong record of delivering new affordable homes and investing in our council housing stock. This announcement will also free up council funding which we will re-invest in improving council homes.”
A new website for the local community, which explains the council's plans for the regeneration of Old Kent Road, has been launched