04 March 2012

Myatts Field North £150 million regeneration plans approved

After years of campaigning by local residents and Labour Councillors the Myatts Field North estate in Lambeth's Vassall Ward is to finally get the revamp it desperately needs.

Work on the crumbling estate (pictured) was delayed by the government last year but after some hard campaigning by the tenants management organisation, they have finally approved the £150 million regeneration project which will see more than 800 new homes being created and a much needed face lift for the area.

The regeneration will be financed by Lambeth Council working in partnership with developers. In total 305 brand new homes will be developed for tenants to replace existing crumbling homes. The development will see a further 172 affordable homes being built with 500 for private sale.

A brand new heat and power plant which will also be installed aimed at cutting carbon emissions by 80% and will provide the estate with greener hot water and heating. Work to start demolishing the estate block will being in spring 2012.

Cllr Lib Peck, Cabinet member for Housing said “Our residents will benefit from better quality homes and their quality of life will have improved by an environment that is totally transformed. Labour have committed to invest in quality housing and improving the lives of our council tenants through raising money by selling of void properties and using funds from the new homes bonus scheme recently announced by the government.”