Newspaper article The Evening Standard (London, England)

The Perfect Partnership; Developers and Councils Are Joining Together to Build Central Homes for Young Londoners on a Budget, Reports David Spittles

Newspaper article The Evening Standard (London, England)

The Perfect Partnership; Developers and Councils Are Joining Together to Build Central Homes for Young Londoners on a Budget, Reports David Spittles

Article excerpt

Byline: David Spittles

SHARED-OWNERSHIP deals are keeping alive the home buying dreams of young Londoners who want to live in the heart of the capital but cannot afford the high prices.

Affordable homes are now available in travel Zone 1 through partnership projects between developers and fair-minded councils concerned about locals being priced out of the centre.

At Elephant & Castle, where jumbo regeneration is finally taking shape, a new residential quarter has been unveiled surrounding London's largest new park in 70 years. Called Elephant Park, it is billed as a ground-breaking green housing scheme for the inner city, with 360 energy- and water-efficient homes plus rooftop "grow gardens", all set in a leafy landscape designed for walking, cycling, relaxation and play.

Prices start at PS380,000. Call Lend Lease on 020 3675 9955.

Elephant & Castle has a bright future. Town planners want the area to become an integral part of the expanding Southwark riverside district, with pedestrian-friendly links to Borough and Bankside.

jumbo steps forward A cluster of residential towers is under way and the eyesore pinkcoloured shopping centre is to be bulldozed -- a crucial step forward. In addition, the notorious roundabout alongside what is Europe's busiest bus interchange, with 80,000 people a day passing through, is to be ripped out and replaced with a two-way system.

Walworth and South Bermondsey, which border Elephant & Castle and are so close to Piccadilly that they get into the large-print pages of the A to Z, are worthwhile hunting grounds for first-time buyers.

Peabody housing association has a number of schemes under way in these areas, which fall into one of London Mayor Boris Johnson's designated "priority zones", earmarked for a regeneration boost. At Coopers Road, off Old Kent Road, new flats cost from PS374,000. Call 020 7922 7226. Another scheme of 66 homes in Camberwell Road is launching soon. Due for completion next year are 180 homes, including 61 for shared ownership, at Chambers Wharf, close to Tower Bridge.

Southwark council has started to redevelop the giant Aylesbury council estate, increasing the number of new homes from 2,400 to 4,200, about 50 per cent of which will be for private sale and shared ownership, through Notting Hill housing association. …

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