UK-based property developers Catalyst and Galliard Homes have formed a 50:50 joint venture (JV) partnership to develop private residential apartments, 604 new homes and a new 11,000-seater stadium for AFC Wimbledon stadium on Plough Lane, London.
In addition to the construction of both private residential and shared ownership apartments, the project also includes nearly 18,000ft² of commercial space, as part of the redevelopment of the former Wimbledon dog track.
The JV will include the construction of the residential units and the public facility by both Catalyst and Galliard Homes.
Galliard Homes executive chairman Stephen Conway said: “We are pleased to finally be able to move forward with this exciting development.
“There are so many components to this scheme that will benefit the local area and we are thrilled to have Catalyst on board, who really have what it takes to make things happen in order to deliver a groundbreaking number of affordable units in a new residential scheme.”
Under the deal, the JV also intend to provide 177 affordable homes, which is more than 30% of the entire development.
Catalyst property and growth executive director Tom Titherington said: “Catalyst’s involvement has meant that the project now has triple the original provision of affordable homes, providing more good quality homes for first time buyers both through outright sale and shared ownership homes.”
With initial works scheduled to begin this month, the project also includes a fitness facility, retail space and a public piazza.
The project has been designed by architecture firms Shepard Robson and Wilson Owens Owens.
AFC Wimbledon chief executive Erik Samuelson said: “As a community-owned club, we are delighted to be returning to our spiritual home in Plough Lane.
“In addition to bringing League football back to Wimbledon, the new stadium will form a base from which to expand our award-winning community work.”
The residential homes project is expected to be completed by early 2021.