Greystar, the U.S based organisation, have arrived in London where, at last, conditions are right for a step change in the provision of a form of housing tenure and funding model which is completely brand new here in Britain, but currently makes up 25% of the new housing supply on the other side of the Atlantic.
HTA are delighted to be working with these developers on Greenford Green, an exciting project seeking to revitalise two derelict sites in South Ealing into a unique, attractive mixed-use neighbourhood. Greystar have thirty years’ experience of developing and managing a huge portfolio of private rented ‘multifamily’ homes all across North America. London local authorities and the GLA have been extremely keen to understand the difference Greystar can make and to see the new ideas this development will bring to Britain’s long term rental model and how it can influence placemaking in the UK.
The extensive 10.6 hectare site, either side of the Regent’s Canal in West London, is the biggest project the developers have ever globally planned and will result in a huge overall investment for the UK’s private rental sector. They intend to attract and retain retail, leisure, craft, restaurant and creative uses that will line the frontage of a network of streets and squares connected to the quay-side walkways and cycle routes. This increased footfall by the redevelopment will be pivotal for local businesses and will generate a huge number of jobs from the construction phase all the way through to completion.
The living experience for these residents will be like nothing else on offer in the city. The residential buildings will have hotel style internal circulation enabling a very high standard, fast and efficient, management regime built around a concierge position in each one of a number of voluminous entrance foyers. This style of living ushers in a new type of neighbourhood which will rise rapidly (unconstrained by slow rates-of-sale that afflict speculative housebuilders) from the present post-industrial dereliction, borrowing from the warehouse aesthetic to create a unique character of place.
For Greystar, the diversity of this mix of uses is central to the offer attracting residents who will occupy circa 2,000 apartments in residential buildings of between six and twenty stories rising above lively street frontages.
Much has been written about the opportunity of placemaking and the innovation of build-to rent and the Greystar development at Greenford Green is the ambitious realisation of these concepts on a grand scale.