FINAL THREE BIDDERS SHORTLISTED TO BUILD FIRST FAMILY NEIGHBOURHOOD

The Olympic Park Legacy Company today announced a final shortlist of three bidders competing for the opportunity to build the first neighbourhood on the Queen Elizabeth Olympic Park.

Chobham Manor will see a return to London’s traditional family neighbourhoods of terraced and mews houses, set within tree-lined avenues. Sitting between the Athletes’ Village and the VeloPark, the new neighbourhood will help to address the local need for larger homes with 70 per cent of the 800 homes offering much needed family housing.

In addition, it is expected that 40 per cent of the new homes will be houses with gardens – amounting to almost a quarter of the total number of new houses registered in London last year. The Legacy Company aims to appoint a development partner by summer 2012 in order for the first homes to be ready in 2014.

The final shortlist is:

• East Thames and Countryside Properties

• Barratt Homes and Le Frak Organisation

• Taylor Wimpey and London & Quadrant

They were chosen following proposals from six bidders who were longlisted in December last year. The six firms submitted outline proposals which were evaluated against criteria including design quality, delivery and financial drivers.

The three favoured bidders will now enter into an intensive series of competitive dialogue meetings to formalise detailed proposals before they are submitted in June.

Andrew Altman, Chief Executive of the Olympic Park Legacy Company, said:

“Chobham Manor will set the benchmark for quality design and sustainable living on the Queen Elizabeth Olympic Park. The three shortlisted parties are all capable of delivering to the highest standards and creating a thriving family community. They reflect the strong market appetite to develop family housing in the area.

“Legacy plans are more advanced than any previous Olympic host city and we aim to continue this by appointing a preferred bidder before the 2012 Games.”

The Legacy Company’s housing strategy has taken into consideration the number of high-density developments already being planned for the surrounding area. It also responds to the views of local people who have put the need for family housing, quality open spaces and supporting amenities among their top priorities.

Chobham Manor will offer a mix of terraced housing, mews housing and duplex apartments within tree lined avenues, intimate streets and open squares. It will sit adjacent to the Athletes’ Village which will be converted into 2,800 flats after the 2012 Games.

Around 30 percent of the homes will be affordable housing with local people targeted through local authorities and housing associations. A Community Land Trust could be part of the affordable housing offer giving a non-profit community-based organisation the opportunity to provide permanently affordable homes for long-term community benefit.

Families in the new homes and surrounding communities will be supported by a walk-in health centre, two nurseries, two multi-purpose community spaces, neighbourhood shops and the nearby Chobham Academy school.

In total, the Legacy Company is aiming for up to 35 per cent affordable housing across the Park – in line with the Mayor’s London Plan.

The new neighbourhood will be within walking distance of Stratford International Station and Stratford Regional Station which offer nine rail lines.

It is one of five neighbourhoods to be developed on the Queen Elizabeth Olympic Park, with up to 8,000 new homes being built over the next 20 years, in addition to East Village.