Pocket Living Prepares New Affordable Housing Scheme For First-Timers
Affordable housing developer Pocket Living has submitted plans for 74 new homes for local first-time buyers (FTBs) in Redbridge, East London.
The developer has submitted a planning application for 74 new affordable homes on land near Snaresbrook station, London borough of Redbridge. In addition to new housing, the developer aims to deliver a new pathway for locals.
Affordable Housing In Redbridge By Pocket Living
The new development will be car-free for residents, except for the blue badge parking. It will take on the space currently utilised by a car park to offer new 100% affordable housing.
In total, the developer aims to deliver 74 new homes, with 73 one-bed apartments and one 2-bedroom home. Local first-timers in Redbridge can get new homes with a 20% discount on market value. Interestingly, 900 buyers have already expressed their interest in buying new homes from Pocket Living in Redbridge.
This new development also represents 15% of the Council's annual target of delivering new affordable housing.
Pocket Living Properties
The new application follows another successful development of Pocket Living in Wanstead, completed in 2021. It has earned an award at the Planning Awards 2022.
The proposal in Redbridge represents a continuous collaboration of the developer and TfL to deliver affordable housing on underutilised brownfield sites across the capital. Currently, another 100% affordable development of Pocket Living, Woodside Park, is under construction, with estimated completion expected in mid-2023.
Experts Share
Pocket Living highlights the importance of delivering affordable new homes in the capital in well-connected neighbourhoods such as Snaresbrook. The developer is delighted to work with TfL on the new scheme to ensure new homeownership opportunities for the next generations of Londoners.
In turn, TfL points out the need to tackle the housing crisis across London. Delivering new affordable homes will address that issue and generate the critical revenue to invest in the London transport infrastructure.
