Approval paves way for Walthamstow to become a destination for shoppers from across London
The Mayor of London, Sadiq Khan, underlined his commitment to working with Waltham Forest Council as he approved the redevelopment of Walthamstow Mall.
The plans to redevelop Walthamstow Mall, approved by Waltham Forest Council planning committee in December and now approved by the Mayor, will bring 200 million pounds of private investment, and provide 8,000 sq meters of new retail space, 350 new permanent retail jobs, 500 new homes, a new children’s play area and re-landscaped town square.
The scheme has substantial costs due to complex foundation works aimed at avoiding damaging the nearby tube line and station coupled with the need to keep the Shopping Centre open during construction. Despite this an increase in the level of affordable housing from 20% to 30% has been achieved following negotiations between the GLA, the Council and the developer Capital and Regional. An additional £7.3 million contribution from the development will be used to build new homes for affordable rent in Walthamstow, ensuring we deliver the Council’s priority of delivering truly affordable new homes.
First priority for all affordable homes built in the borough will go to residents.
Waltham Forest Council is proud that we are the London Borough with the best record in building affordable homes. 47% of new homes between 2013-16 are affordable, against a London average of 26%.
Waltham Forest Council has around a thousand new council homes already built or planned to be built over the next five years.
The Council is looking at the potential for its housing development company Sixty Bricks to support delivery of the additional affordable rent homes linked to the Mall.
As part of the agreement to redevelop the Mall, Transport for London have also agreed to spend £15m to improve Walthamstow Station by creating a new entrance that will increase accessibility and reduce overcrowding.
The number of trees on the site will increase under the plans and Waltham Forest Council have agreed that for every tree removed from the site we will plant five more elsewhere in the Borough which will help us reach our target of 50,000 trees in Waltham Forest.
Waltham Forest Council Leader, Clare Coghill said “The Mayor’s decision to approve the redevelopment of the Mall in Walthamstow will radically improve the town centre, replacing the existing town square and shopping centre which is tired, underused and not good enough for our residents.
“A new and expanded Mall will give a significant boost to the local economy, giving our residents the opportunity to shop in the borough rather than going further afield, which has a detrimental effect on our local economy.”
The Mayor of London, Sadiq Khan, said: “Today is an important day in the delivery of genuinely affordable homes in Waltham Forest – an area of the capital which has seen significant pressure on housing and a sharp rise in property prices in recent years – and we have listened carefully to the local community.sss
“Through these two developments, Londoners will soon be able to benefit from hundreds of new genuinely affordable homes, including those that the council will look to build through their own homebuilding programme.”
