Topping out ceremony celebrates construction of first Red Door Ventures homes

30 March 2015 in Housing and Mayor and Regeneration
A key milestone in the construction of the first private sector homes built by Newham Council owned company Red Door Ventures, was marked with a topping out ceremony.
Mayor of Newham, Sir Robin Wales attended the ceremony at the top of The Tanneries development in Leather Gardens, Stratford. The building comprises 36 high quality two bedroom homes.

Sir Robin was joined by Chris Wood, Director at Red Door Ventures and Ian Saunders, Director of HG Construction, the company responsible for building the development. Councillor Andrew Baikie, Mayoral Adviser for Housing and Councillor Ken Clark, Cabinet Member for Building Communities, Public Affairs, Planning and Regeneration were also in attendance.

Red Door Ventures was set up last year to deliver a large programme of private rented homes for residents. Over the next 10 years, Red Door Ventures will build at least 3,000 new homes in Newham. All the homes will be available for residents at market rent or below with some of the homes offered at affordable rent subsidised by the council. The majority of the affordable units will be family sized homes.

Sir Robin Wales said: “I am pleased to celebrate this major milestone with Red Door Ventures. This is an innovative initiative which will provide much needed family homes for Newham residents, helping to alleviate London’s housing crisis.

“By setting up this company, the council is able to create a new offer in the private rented sector. The Tanneries will be a high quality development run by a trustworthy landlord. Our subsidy will also mean some of these homes will be truly affordable for families on low budgets. I look forward to seeing this ambitious project develop further, creating even more homes.”

Chris Wood from Red Door Ventures said: “Red Door Ventures is delighted to have this scheme progressing. Hopefully it will be the first of many high quality housing schemes funded by Newham Council. We will be looking to let these properties from September onwards.”