The first tenants are expected to move into The Residence within the coming weeks with owners L&Q agreeing with the council to prioritise eligible Wandsworth locals for the below-market properties at rents of between 38% and 60% of market rates.
The remaining 114 purpose-built apartments are due for completion later this year.
“Our focus is to maximise the housing offers available to Wandsworth residents,” said Brian Reilly, director of housing and regeneration at the council.
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“This is another example of how former industrial land at Nine Elms continues to provide new homes, businesses, arts, culture and community space to help bring this area to life.”
The homes are part of a wider redevelopment of the 2.7-acre site, which will deliver a total of 510 new properties, including a mix of one-, two- and three-bedroom flats and maisonettes.
The development will also feature thousands of square metres of floorspace for businesses and community use, as well as a new outdoor public space which will run from Vauxhall Cross to Battersea Power Station.