Following a residents’ ballot that decided in favour of Riverside’s plans, Pike Close will be rebuilt to provide every current Riverside tenant with a home that better meets their needs, that is modern, accessible, spacious and more energy efficient.
In addition, in the blocks on the new estate there will be 78 new homes for sale on the open market.
Pike Close in its current form is old and increasingly expensive to maintain. Its concealed entrances and communal areas encourage anti-social behaviour, crime and fly-tipping.
The new Pike Close will be designed to address these problems and will include additional homes for sale. The revenue from these sales is what makes this project possible and enables Riverside, as a not-for-profit organisation, to pursue their social mission, transforming the lives of Pike Close tenants and revitalising their neighbourhood.
In addition, the GLA is currently offering grant funding to help with estate rebuilding that will help deliver high-quality new homes for tenants. We needed to act now to take advantage of this, for the benefit of our tenants as there is no guarantee that these funds will be available to improve tenants’ homes and neighbourhoods in the future.How?
Riverside is partnering with Countryside one of the UK’s leading home builders, to build the new Pike Close.
The new estate will be built to meet the housing needs of our existing tenants, which were identified through an estate wide Housing Needs Survey carried out between October 2017 and May 2018. We will allocate homes according to need once detailed plans have been finalised and planning permission secured from the local authority.
This also means we are not yet able to offer assurances over service charges. But we are committed to keeping them to a minimum and to keeping rents below London Affordable Rent levels.
Tenants will receive a Home Loss payment and disturbance allowance to compensate for moving costs. The demolition and building work will be phased so that tenants can live on the estate through the redevelopment and only have to move once.
For more information, see the plans as laid out in the offer document.