The brownfield site in Stoke Newington, where Essence development will soon be standing, has been cleared ready for building work.
Fairview New Homes will build 54 apartments on the land, off Crossway, which was most recently home to a builders’ merchants. The company relocated after the site was judged to no longer be suitable.
Fairview will be making contributions totalling more than £1.1 million to benefit the local area as part of its new Essence development.
The first homes are set to be released for sale by summer next year, with the first apartments set to be ready for occupation by early 2018.
Jim Holliday, Sales and Marketing Director for Fairview, said: “Residents and those passing by the site at Crossway will have seen our ‘land acquired’ signage go up, and we are now busy on site, clearing the way for building work to begin.
“Soon enough, this brownfield site will become a development of 54 apartments which we believe will regenerate the area with much-needed new homes.”
Fairview’s development will comprise a mix of 1, 2 and 3-bedroom apartments.
Of the 54 apartments being built, 38 will be sold on the open market, while 16 will be made available as affordable housing.
The development site fronts onto Crossway at its junction with Selsea Place, and is 75m from the junction of Stoke Newington Road and Kingsland High Street.
Fairview will make financial contributions including an £841,521 payment to Hackney Council, to be spent on education, transport, open space and other community facilities.
A payment of £162,575 will go towards the Crossrail project, while more than £100,000 will go towards employment and training and highway works.
Source: Fairview www.fairview.co.uk 27.09.2016