Network Homes celebrates key milestone in construction of new affordable homes in Canary Wharf

Leading housing association Network Homes celebrated a key milestone in the delivery of 104 affordable homes at a development in Canary Wharf.

A topping out ceremony was held at The Madison, a 53-storey tower development at Marsh Wall, on Wednesday 26 June to mark a key milestone in its construction.

Network Homes has successfully acquired the one, two and three bed apartments from LBS Properties Ltd through a Section 106 agreement. There will be 58 homes for Affordable Rent and 46 properties for Shared Ownership offering opportunities for local people to get on the property ladder.

The Madison will also feature offices, retail space and a new landscaped park along with a further 319 private homes. It will have excellent transport links being close to South Key DLR station and is right next to Canary Wharf where the new Elizabeth line will be calling from 2020.

Apartments let at Affordable Rent will be offered through the Tower Hamlet’s housing register. Those who live and work in the borough will be offered the chance to buy a Shared Ownership home provided they meet the relevant criteria.

This is a fantastic opportunity for much needed new homes for local people in the heart of Canary Wharf. Through a 106 agreement we’re able to provide high quality, stylish homes to live in at an affordable price.

David Gooch, Network Homes Executive Director for Development

Nick Crawford, Managing Director of LBS Properties, commented: “This is a landmark moment for The Madison, which is transforming this opportunity area within the docklands and will provide benefits not only for residents but the public thanks to the expansive new gardens. Through the combination of unique design, specification and outstanding location, we have enjoyed strong sales success to date including significant off plan sales, despite a challenging backdrop. Overall estimated completion is due in Q3 2020 and we look forward to welcoming the first residents.”

Paul Smith, Project Director of Balfour Beatty, Said: “The Madison tower structure tops out this week, with cladding close behind.  We look forward to handing over levels 1-15 in Q1 2020, to a delighted LBS Properties and Network Homes.”