Stratford Estate Regeneration Continues, Project Extended By Three Years

Newham officials made a choice. They disagreed with certain council members about the Carpenters Estate project. Some councilors worried about rising costs. The project’s borrowing costs jumped from £845 million to £1.4 billion in just over two years.

A council report explains why costs rose, citing increased construction costs and new safety rules. The project will also include more homes, extending the building time to around 14 years, instead of 11.

Some councilors wanted to reconsider the report, feeling it needed more review and expressing “serious” concerns about ethics and money. A “call-in” allows them to question a decision.

Councilor Garfield, who used to live on the estate, feared high interest rates could hurt the council’s funds later. He worried future budgets might only cover interest.

The committee suggested changes, including updates twice a year and different ways to fund the project, such as selling part of the estate.

Newham’s mayor, Rokhsana Fiaz, said the council is open to new investment plans and wants external help for housing, describing this as an emerging policy direction.

The council will explore options through discussions alongside design work. These options will inform advice for the cabinet before construction decisions are made. However, the council thinks an outside review isn’t needed because staff are already considering all options and have strong internal controls.

Ms. Fiaz said inflation is high, and they haven’t decided long-term finances yet. Ultimately, the cabinet voted to keep its original decision and won’t have an independent review.

The estate aims for 2,300 homes, with fifty percent designated as “affordable” social rent. The Carpenters Estate has faced plans for 20 years.

The estate currently has 710 homes, including low terraces and three tower blocks, but fewer than half are occupied in 2024. Regeneration plans started in 2003, with residents complaining about maintenance, asbestos, and rodents.

James Riley Point was in poor condition, and demolitions began in 2004. Other towers were expensive to fix, leading residents to move out of towers and houses in 2009.

Fiaz replaced Robin Wales in 2018 and restarted the regeneration plans, which past plans were unpopular. A few original residents still live there.

The LLDC approved expansion plans in February 2024. Around 60% of the estate is being demolished, and the project lasts 15 years. The council aims for 1,000 homes in six years.