The 1,448 home residential development will also contain 425 shared living rooms, 93 affordable homes, a children’s nursery and various commercial and community units.
The ‘Electric Works’ project will be built on an empty patch of land in Woolwich town centre next to Lidl on the south side of the junction between Macbean Street and Beresford Street.
The vacant 1930s Electric Works building on the site after which the development is named will be partly retained and redeveloped into one of the new buildings.
Developer Re:shape Living will also deliver nearly £3m in S106 funds which will be used to support local infrastructure as mitigation for the new development.
The proposal was approved by Greenwich Council’s Planning Board on December 2.
At the meeting, a Greenwich planning officer said: “The proposal delivers high-quality design, policy compliant affordable housing and essential community infrastructure, directly addressing the strategic policy objectives for the Woolwich opportunity area.
“The limited less than substantial harm to heritage assets is convincingly and demonstrably outweighed by the scheme’s comprehensive public benefits.”
Jermaine Browne, a managing partner at Re:shape Living, said the proposal would “transform an underutilised site into a mixed and balanced neighbourhood” and confirm that work on the site would begin in 2027.
He added: “We believe that we are delivering the highest-quality scheme possible on this site, and are very pleased to confirm that no objections to these proposals have been lodged by any neighbours or community groups.”
Mr Browne also said residential units within the scheme had been “designed around the real local needs of families” and they would “relieve local people from overcrowding and give children stability to flourish”.
He explained the scheme’s co-living offer was “rooted in connection and combatting loneliness” and all the units of the new development would be marketed to local people first.
Speaking on affordable housing, Mr Browne said: “Every affordable home delivered here, especially each family home, changes a local family’s future.
“Few things drive social mobility more powerfully than a safe and secure home that brings pride and stability to that family.”
Cllr David Gardner had “no hesitation” in supporting the proposal due to its car-free nature and its affordable housing provision, although he did express some disappointment with the height of the tower blocks, wishing they weren’t as tall.
Cllr ‘Lade Hephzibah Olugbemi also supported the plans but did raise some concerns about the height of the blocks as well, although she acknowledged that Greenwich had housing needs that needed to be met.
She said: “It’s one of the first times I’m hearing a developer talk about a community space and the fact that it’s going to be open for locals to come in.
“I hear about gardens spaces in front, facilities for children, and that is extremely delightful for me, and also the fact that we have larger sized homes.”
The Planning Board unanimously voted to approve the proposal. Mr Browne took to LinkedIn to celebrate the approval of the £425m, 1,448 home project.
He said: “The Electric Works project will breathe new life into the site through the creation of a new vibrant and inclusive neighbourhood.”
Also on December 2, plans to add 51 more dwellings to three tower blocks within the Lombard Square development in Plumstead were approved. Developer Berkeley wanted to add extra one-bed units to the scheme as it is adding a built to rent offering to Lombard Square.
A proposal to redevelop a vacant three-storey commercial building at 48 to 50 Artillery Place in Woolwich into 17 affordable homes was approved as well, as was a plan to build a five-storey 28-home development on land next to Penmon Road in Abbey Wood.
