Enfield Council has today announced that work is shortly due to begin on the first homes of the £6 billion Meridian Water development in Edmonton after signing a development agreement with developer Vistry Partnerships (formerly known as Galliford Try Partnerships).
Enfield Council had previously announced that the developer would become the projects development partner in April last year in an exclusive interview between Enfield Council Leader, Cllr Nesil Caliskan and Residential People.
However, Residential People can today reveal that the signed agreement will see 50% of affordable homes being delivered as opposed to the original 35% target outlined in a Galliford’s bid last year.
Commenting on the agreement, Matthew Taylor of Vistry Partnerships (formerly Galliford Try Partnerships) said: “We’re delighted to reach this significant development milestone, which means construction will commence in earnest next year. Enfield Council has shown a real commitment to providing a range of mixed tenure homes, with affordability for local people at the heart of our shared vision for Meridian Water.
“It is a major achievement that we are now providing 50% affordable housing, with 90% of all open-market homes for sale across the scheme qualifying for Help to Buy.
“This will give local people a genuine opportunity to own a home in the area they know and love, and allow them to benefit from this fantastic regeneration scheme. Furthermore, the development will provide fantastic new public spaces and opportunities for new local start-up businesses to grow.”
Half of the approximately 900 new homes on Meridian One will be marketed as affordable housing with the council owning 50% of these homes. Enfield Council state the remaining homes “will provide a range of tenures and housing types to respond to market housing needs” – The first Meridian One homes will be completed in 2022.
Highlighting what the deal means to local residents and Enfield as a Borough, Cllr Nesil Caliskan, said: “From the start, I made it clear that I wanted the primary beneficiaries of Meridian Water to be local residents and the agreement we have struck with Vistry Partnerships (formerly Galliford Try Partnerships) enshrines that guiding principle.
“These will be world-class dwellings for families in Edmonton, they will be properties residents will be proud to call homes, and this development will be a shining example of how councils can lead major regeneration projects to deliver real benefit for their residents.
“Meridian One will provide a significant number of family homes and a wide range of different types of housing, which will suit a wide range of budgets and lifestyles and reflect our commitment to tackling the housing crisis in Enfield.
“This diversity of housing will play a major role in alleviating the pressure on housing in Enfield and give residents real choice when it comes to choosing what sort of accommodation they want to live in.”