Argent Group, London & Continental Railways and ExCel
The Background
King’s Cross is a major mixed-use regeneration scheme covering an area of 8 million square feet. When completed it is intended to provide almost 2,000 residential units, fully integrated into the surrounding community.
The Requirement
This experienced regeneration developer appointed Levvel in 2005 to assist in securing planning consent through:
•
Analysis of the existing housing market and preparation of a solution that would directly address all identified housing needs
•
Preparation and agreement of a Viability negotiation strategy and process, with the Council, The Mayor and Housing Corporation
•
Maximum utilisation of re-cycled receipts from intermediate affordable housing, through the identification of new affordable housing products
Why Levvel?
With the credentials of Levvel’s mould breaking holistic approach already successfully established at Stratford City, all parties were able to have a high level of confidence in the authority of Levvel’s viability proposals and assurance that the proposed affordable housing solution could be delivered.
The Levvel Solution
Utilising the principles of the ‘whole market’ approach and negotiation strategy previously put into use at Stratford City, Levvel undertook housing needs and market demand analysis and profiled existing housing stock, across the King’s Cross area. Funding and viability requirements were then established enabling an affordable housing solution that could be seamlessly integrated into the existing community infrastructure to be developed and built.
The Outcome
The Levvel approach persuaded the Council to accept the incorporation of a number of innovative affordable housing products into the overall housing mix.
As a result, Outline Planning consent was given in 2006 with a little under 42% affordable housing, including a residential scheme for the frail elderly.
Non housing land - new viability study by Levvel ... more >>
V
David Cameron announces plan to end lifetime council tenancies ... more >>
LEVVEL IN THE FUTURE
Levvel will be expanding and evolving their services as a response to the economic climate and as a consequence of the changed political situation. We will launch the new services and updated website in the summer. As new housing and planning policies emerge, we will be hosting more regional seminars, starting in the South West.
