Capital Towers (1)

Meeting: 
MQT on 2013-10-23
Session date: 
October 23, 2013
Reference: 
2013/3631
Question By: 
Tom Copley
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

What is the proportion of a) market, b) affordable housing for homeownership, c) Affordable Rent and d) social rent on the Capital Towers development on the Olympic Park? Please outline the reasoning for the amount that was agreed for each tenure. Please also state whether this housing was provided off-site.

Answer

Answer for Capital Towers (1)

Answer for Capital Towers (1)

Answered By: 
The Mayor

The Capital Towers (2-12 Stratford High Street) scheme is not located on the Olympic Park. The site is located on Stratford High Street within the London Borough of Newham. It is a 100% market scheme.

The application fell within the ODA's planning boundary and it delegated the decision to LB Newham. LB Newham negotiated a s106 legal agreement which requires an initial Affordable Housing Contribution of £200,000 towards off-site Affordable Housing. A second payment will be subject to a viability review.  Details of this will be held by LB Newham as the planning authority concerned.