The UK government, through housing and regeneration agency Homes England, has committed £124 mln (€149 mln) to support the development of 20,000 new homes at Barking Riverside in east London.
This investment will fund vital infrastructure including flood defenses, an energy centre, and parks, unlocking the potential of the 179-hectare brownfield site, formerly home to Barking Power Station.
Barking Riverside, one of Europe's largest regeneration projects, will transform the site into a thriving community with affordable housing, green spaces, new schools, and improved access to the River Thames. The development will include retail, employment, and community spaces alongside homes.
This funding package, a combination of loans and grants, will enable developers L&Q and the Mayor of London to build an additional 16,500 homes on top of the 3,500 already built or under construction. This will ultimately create a community of up to 50,000 people.
Fiona Fletcher-Smith, CEO at L&Q said: ‘This new funding from Homes England is a vital boost for Barking Riverside. With demand for affordable housing soaring, housing associations like L&Q are essential to delivering solutions — but real progress depends on government support. That’s why this investment is so important: it allows us to do more, faster, and at a scale that truly meets the needs of local people.’
Matthew Carpen, managing director of Barking Riverside, commented: ‘Barking Riverside has delivered thousands of vitally needed new homes for Londoners, on brownfield land that has already seen a significant investment in infrastructure. However, the support from Homes England will enable this project to move into a new era — increasing the level of ambition and unlocking housing at the scale needed to truly make an impact.’
Peter Denton, CEO of Homes England, added: ‘Delivering the government’s target of building 1.5 million homes will require support and collaboration from across the housebuilding sector. At Barking Riverside there is potential to literally build more homes — and more affordable homes — in a place where they are desperately needed.’
While originally approved for 10,800 homes in 2008, Barking Riverside has since been identified as capable of housing up to 20,000 homes, with at least 35% designated as affordable housing.
Significant infrastructure to support the initial phase of 10,800 homes has already been completed, including the new Barking Riverside overground station opened in 2022.
Future homes will embrace sustainable living powered by a low-carbon District Heating Network. This environmentally friendly system generates heat and hot water locally, distributing it to homes through underground insulated pipes, eliminating the need for gas boilers.
To support the growing community, 7 new schools are planned, with 5 already completed: 2 primary schools, a secondary school, and a Special Educational Needs (SEN) school.
