The contractor will build 195 luxury homes in Maida Vale, City of Westminster on behalf of Latimar, part of the Clarion Housing Group.
Once completed, 50% of the scheme will be sold back to Westminster City Council by Latimer, with around the £20m generated being reinvested back to support the remaining estate improvement works, including the remodelling of the 11-storey Tollgate House and community centre.
The redevelopment of Tollgate Gardens will provide 248 new homes overall, with 195 new units and 53 refurbished homes forming a tenure blind development.
The estate has been identified as a priority regeneration project in Westminster City Council’s Housing Renewal Strategy in 2010. The existing low-rise blocks will be demolished to make way for new apartments.
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Dan Germann, Regional Managing Director at Keepmoat said: "This project is delivering much more than traditional social housing, it is showcasing our ability to build high-end, mixed tenure, social rent, affordable and private sale homes at large scale, in an area where people genuinely want to live and where homes of all kinds are in increasingly high demand.
"We have a demonstrable track record of delivering large scale regeneration projects in partnership with local authorities and housing associations; and so are perfectly placed to work with Latimer and Westminster City Council on this ground-breaking scheme. We are also committed to liaising with local residents throughout the duration of the build process, to ensure everybody gets the best out of this project."
Kerry Kyriacou, group director of development at Latimer, added: "We are looking forward to working closely with Westminster City Council and Keepmoat to bring forward high quality new homes, community facilities and green spaces in this part of the city as part of what will be a flagship development benefitting not only current residents but also generations to come."
(LM)
