GLA and L&Q invest £500 million in Barking Riverside
Mon 19th March 2018, 10:13 am
Mayor of London Sadiq Khan and housing association L&Q have agreed to invest £500 million in Barking Riverside, via a partnership between the GLA and L&Q called Barking Riverside Limited, which will deliver the masterplan.
Khan said: “This is an incredibly exciting project for Barking & Dagenham, but also for the whole of London. As we tackle the biggest housing crisis for a generation, major developments like Barking Riverside will deliver thousands of the genuinely affordable new homes Londoners desperately need. As well as housing, our investment will create the new transport, education and health services needed to turn this into a thriving new community.
The £500 million will be invested in a new Overground station, a new city centre, seven schools and a new leisure centre.
Darren Rodwell, leader of Barking & Dagenham Council, said: "This is a hugely significant step not only for Barking Riverside but the whole borough. It’s part of our drive to make this part of the Thames a magnet for aspirational Londoners who want the wonders of waterside living without having to pay sky high rates."