Arsenal have taken another important step towards completing the nine-year regeneration of the area around the Emirates stadium after Barratt Developments confirmed that they, in partnership with social housing partner L&Q, will start work on the construction of 375 upmarket flats on the Queensland Road in January 2012.
The housebuilder is hoping that the £128 million project, which will feature three residential towers, will attract interest from a new wave of Arsenal supporters inspired by the appetite shown by loyal Gunners who readily snapped up 655 flats at the redeveloped Highbury Stadium.
Arsenal were first granted permission by Islington Council to redevelop Queensland Road in 2002 but have seen plans heavily amended (see here) in the last decade as part of a revision of the club’s needs and with changed market conditions taking their toll.
Reflecting an agreement that marks the final piece in the Emirates Stadium jigsaw, Arsenal Director Ken Friar remarked:
“We are delighted to have signed with Barratt. This is the last piece of the jigsaw in our new stadium project which has delivered huge regeneration to the Borough of Islington. 2,500 new homes and 2,500 new jobs have been created over the past six years. I am proud that we stayed in Islington and proud that Arsenal has helped contribute to the local community in this way.”
Alastair Baird, regional managing director of Barratt London, added:
“The homes will be situated literally yards from the stadium and we expect them to become as sought after by Gunners fans as the properties at Chelsea Village are by Chelsea supporters.”
The first units at the development, designed by CZWG architects, will be on sale in September. The scheme will also comprise 440 sq m of retail space and the construction programme is expected to be completed in 2015.