The first phase of the joint venture will bring together three major London regeneration projects 鈥� Euston, Silvertown and Stratford Cross 鈥� culminating in a potential 9,000 new homes and 7.03m square feet of commercial space. The joint venture鈥檚 construction programme is set to begin almost immediately, with work due to start on 326 affordable homes at the 60-acre Silvertown development in September and a planning application due to be submitted at Euston in spring 2027
It is expected that a second phase will see Smithfield in Birmingham and Thamesmead Waterfront in London enter the Impact Partnership Joint Venture later this summer, to make up the second phase of developments. Their entry to the joint venture relates to transaction timing; and does not affect development timetables at Thamesmead Waterfront or Smithfield Birmingham. These two substantial projects will deliver an additional 18,500 homes and 2.88 million square feet of commercial space.
Major infrastructure works at Smithfield are expected to commence later this year, with the delivery of temporary markets due to start early next year and the first housing block scheduled to commence later in 2027.