Overground Extension to Barking

Meeting: 
MQT on 2014-02-26
Session date: 
February 26, 2014
Reference: 
2014/0597
Question By: 
Andrew Boff
Organisation: 
GLA Conservatives
Asked Of: 
The Mayor

Question

What would be the wider benefits for the opening up of the Thames Gateway area for new development if the Treasury agree to fund the extension of the Overground to Barking Riverside?

Answer

Answer for Overground Extension to Barking

Answer for Overground Extension to Barking

Answered By: 
The Mayor

I am pleased that the Government made a commitment in the 2014 Budget to work to extend the Overground to Barking Riverside in order to help unlock the potential of this huge development area.

When completed it will house 29,000 people, supported by 65,500 sq.m. of commercial, retail and leisure development in district and local centres supporting the creation of 6,000 new jobs. This will generate savings of £13 million per annum in terms of a reduction in local unemployment, while the full build out of homes will increase local retail spend by around £47 million per year by 2031. The development will be underpinned by new social infrastructure including five new schools, health centres, places of worship and community facilities.  

At over 445 acres along 2km of Thames River front, Barking Riverside is London's largest regeneration site with planning permission for 11,000 homes. The site is already under development with over 1,000 homes expected to be completed by 2016. The quality and contribution of the initial Barking Riverside development has been recognised through its recent Sunday Times British Homes Award for Development of the Year 2013 and Housing Design Award 2013. Without a funding commitment from Government this rail scheme development would stall at 1,200 homes and an opportunity to contribute to addressing London's housing crisis would have been lost. Once the details of the rail extension are confirmed, development of a further 3,000 homes can immediately be unlocked through planning consent. Barking Riverside Limited's investment in site preparation and infrastructure can commence far earlier than would otherwise be the case.