In 2017 the number of proposals and projects for skyscrapers in London broke the 500 mark. More importantly high rise buildings are appearing in countless suburban locations. The very first towers are being put forward for Waltham Forest, Bromley, and other locations in the suburbs. The first of these was successful recently in securing permission after improvements to the plan.
Capital & Regional plan to build a 29 storey building on the Mall in the centre of Walthamstow. This will create 500 new homes. The project initially secured permission from Waltham Forest Council in December. Mayor of London Sadiq Khan had some concerns about the amount of affordable housing though. The original plan would have delivered just 20% of them for shared ownership.
Following the Mayor’s intervention, Capital & Regional have agreed to increase the number of affordable homes to 30%. A number of these will also now be available for rent. This is very important because rental prices in the area have risen by a huge 52% in the last ten years according to data from Rightmove.
The Mall development will be a big part of creating a new town centre in Walthamstow. As part of the work it will reduce in size but be redesigned. The shopping centre will also expand, creating new commercial spaces. The local council believe that this could result in as many as 350 new jobs.
In addition to this the local station will be get an upgrade. Transport for London (TfL) will invest £15million to improve the entrance and resolve issues with overcrowding. Capital & Regional have also contributed funds for this part of the Mall redevelopment.
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