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The Malt Street regeneration project, located on Old Kent Road in South London, is set to experience a major resurgence after its initial halt due to viability concerns. Berkeley, the principal developer behind this ambitious scheme, has outlined a comprehensive strategy to revive the project, which includes adjustments to its affordable housing timeline, energy systems, and infrastructure. This move not only signals a new phase of development for the area but also underscores Berkeley's commitment to delivering a forward-thinking, sustainable community.
The Malt Street redevelopment is one of the most significant residential projects in South London, aiming to provide over 1,300 homes, along with substantial commercial spaces and community facilities. The scheme, which was initially stalled due to external factors such as Brexit and the COVID-19 pandemic, as well as rising material costs, is now poised to move forward with a renewed focus on economic viability.
Berkeley’s revised approach includes several key adjustments designed to address previous viability concerns and ensure the project's success:
Berkeley has decided to adjust the timeline for affordable housing, moving it to later phases to create more favorable economic conditions for the project's commencement. This strategy aims to balance the demand for affordable housing with the need for immediate economic feasibility.
The shift from gas boilers to air source heat pumps signifies a significant step towards reducing carbon emissions and enhancing sustainability. This change also involves adding plant to the top of the towers, which will slightly increase the building mass but contribute to a greener footprint.
The Malt Street regeneration not only offers residential and commercial spaces but also contributes to the area's cultural and economic development:
The Malt Street regeneration project involves a collaborative effort from several leading companies in the construction and design sectors:
While the project faces technical challenges, such as navigating existing National Grid tunnels, innovative design solutions have helped mitigate these issues. The use of lean design principles by Walsh not only reduced construction costs but also minimized environmental impact by optimizing foundation depths and reducing embodied carbon.
Berkeley's renewed commitment to the Malt Street regeneration signifies a major step forward for South London's development landscape. By embracing sustainable practices and adjusting its strategic approach, Berkeley aims to create a thriving, sustainable community that not only meets the region's housing needs but also enriches its cultural and economic fabric.