Demolition works are due to start soon with social distancing in line with Covid-19 health and safety precautions.
The eight-storey development, designed by Maccreanor Lavington Architects, will provide a collection of one-, two-, and three-bedroom homes.
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Eight-storey development on Surrey Street, Croydon
Many of them will feature double or triple aspects with balconies or private roof terraces and six apartments will be wheelchair accessible.
Surrey Street market
It is situated at the corner of Surrey Street and Matthews Yard; the entrance to a weekly street market, which will be able to remain operational during construction.
The scheme will be delivered using MMC and materials in line with the historic context of the conservation area and the local street scene.
Aaron Usmani, construction director at Henley Construct, said: “We look forward to working on this site in Croydon, bringing much needed affordable housing to the area.
“While lockdown is still in process, we will be working with strict social distancing in place on this site to get the work underway — our employees’ health is paramount.
“Henley Construct has a first-class track record in delivering projects of this nature.
“Quality and detail are critically important to us regardless of tenure — people deserve high quality housing regardless of whether they are renting or buying.”
James Lambert, development consultant for PA Housing, added: “This development sits in a core town centre location where affordable housing is needed.
“We look forward to working with Henley on the project and are delighted that work will start soon in order to fulfil the affordability need in the area, with further schemes in the pipeline.”