Member Article

Seven figure funding boost for £1.5bn Meridian Water scheme

Enfield Council has secured £80m European Investment Bank (EIB) funding to boost the initial phase of the £1.5bn eco-mixed-use development, Meridian Water.

The proposed Meridian Water development, which is one of London Mayor’s innovative ‘Housing Zones’, will be the largest development of residential and commercial tenants to connect to a district heat network, according to the Construction Enquirer.

The developments will deliver 5,000 homes in several phases, with the potential for this to increase to 8,000 homes at a later stage.

Tendering for a design, build and operate firm is well advanced with a contractor set to be announced in September.

The network is also expected to supply heat to 2,000 new homes at Ladderswood, Alma Estate and New Avenue.

The EIB will work with the council to deliver several other major projects, including the Lee Valley Heat Network and Enfield’s schools expansion programme.

Jonathan Taylor, European Investment Bank Vice-President said: “The European Investment Bank is pleased to support new investment to construct and upgrade family homes, cut energy bills, and improve schools across Enfield and develop brownfield sites across the borough.

“The new investment outlined today is part of an EIB backed £1bn urban renewal programme that will improve the quality of life and health of Londoners, as well as creating jobs where they are most needed.”

This was posted in Bdaily's Members' News section by Ellen Forster .