The approved plans – which will transform Walthamstow town centre with the Mall at its heart – include designs for an 86,000 sq ft extension to the existing shopping centre and up to 500 new residential homes, containing affordable housing.
Capital & Regional has said that it will be looking at funding options in further detail as the detailed planning application for the residential tower is brought forward.
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“Our vision for Walthamstow has been developed hand in hand with the council and residents and we have tailored the mix of homes, leisure uses, services and amenities to meet the needs of the local community,” said Lawrence Hutchings, chief executive at Capital & Regional.
“This will be transformational for Walthamstow and underlines our position at the heart of the community, both in terms of how we are supporting the improvement of the wider public realm and amenities, including Transport for London's plans for the underground station, but also in terms of how we are able to provide relevant goods and services for the people we serve.
“All of this will ensure Walthamstow remains a vibrant neighbourhood for generations to come, underpinning the resilience of the Mall, our positive footfall growth and, ultimately, our income profile."