Regeneration projects on the Greenwich Peninsula could be delayed by up to half a decade. That was the verdict of Andrew Storey – joind Chief Exec for the Greenwich Peninsula – when he spoke at the Thames Gateway Forum.
“‘House prices are now 20 per cent below where they were [when permission was granted in 2007], so we need to wait until they return to what they were before we can go ahead” said Storey.
This means that planned developments for thousands of new homes in the area will be mothballed, and even projects where work had begun may be put on hold.
Read more about what came out of the Thames Gateway Forum at The Architect’s Journal.