In November 2012 Lend Lease won the planning permission to begin constructing the first new homes at Elephant and Castle, in central London, as part of the regeneration scheme that has been lauded as the most sustainable development in the world.
As well as providing the funding for the scheme, and developing the new homes that will be built, Lend Lease, an international property group, in partnership with Southwark Council, is also acting as the main contractor. As part of the £1.5 billion regeneration, Lend Lease will build around 3,000 new homes, alongside shops, restaurants, community facilities, and public parks and spaces, all due to be complete within 15 years.
Elephant & Castle development. (Lend Lease)
Pascal Mittermaier, the project director for Lend Lease, explained that his project is a "decisive step in the continuing transformation of Elephant & Castle into one of the most vibrant, well-connected and desirable places to live in the capital.
The new homes at One The Elephant and Trafalgar Place will be some of the most sustainable and energy efficient places to live in Britain and will showcase the latest innovations and building practices."
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The homes being built, of which the first 500 are already under construction and are expected to be complete by the end of 2015, will include a number of sustainable technologies that will make them 30% more energy efficient than current regulations actually require, and will use 30% less water than the average London home.
Peter John, the leader of Southwark Council, said that "work has already begun on our new leisure centre, and as we start to see new homes appear, our vision for Elephant & Castle will be there for all to see."
The International Quarter. (Lend Lease)
Lend Lease is also involved in the development of 350 new homes at the International Quarter, a new £2 billion commercial district at Stratford City in the Olympic Park.
By. James Burgess of Oilprice.com
James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also… More