Developer of affordable housing, Pocket Living, recently submitted a planning application for 74 homes targetted towards first-time buyers.
The properties are adjacent to Snaresbrook station in East London and will include a new pathway for the local community.
Affordable homes coming to the east
The Snarebrook development is currently under construction, with completion expected in summer 2023. The proposal outlines plans to deliver a total of 74 affordable homes comprising 73 one-bedroom apartment and one two-bedroom apartments.
The homes will be available at a 20% discount to market value to local first-time buyers who live or work in the London Borough of Redbridge.
The proposal will also represent 15% of the Council’s annual target for affordable homes. While the target market is car-free for residents, with the exception of blue badge parking.
The applications comes shortly after Pocket Living’s successful Gardner Close development in Wanstead. Completed in 2021, over 400 enquiries were receieved from local residents interested in buying an apartment at Gardner Close.
Thomasin Renshaw, Pocket Living’s development director, said: “The Government’s ‘brownfield first’ policy has further emphasised the importance of delivering future homes in well-connected locations such as Snaresbrook. We are delighted to be continuing to proactively work with TfL on schemes that will ensure homeownership opportunities for the next generation of Londoners.”
Ben Tate, head of property development at Transport for London, said: “Working with Pocket Living, we are pleased the planning application to deliver a new affordable housing scheme in Snaresbrook has now been submitted. We strongly believe in using our land to help tackle the housing crisis and deliver the new homes that the capital urgently needs, while also generating vital revenue to invest into London’s transport network.”