£175M Mixed-Use Kicks Off Old Oak Regeneration Scheme
A new £175M mixed-use project will kick off the Old Oak regeneration scheme. Oaklands will transform the area south of the Grand Union Canal, an area that has been disused for years.
The Genesis Housing Association and Queens Park Rangers Football Club will build a pleasant new neighborhood with 605 homes, 40% of which will be affordable, and a 40k SF "creative hub" designed to attract companies from the new high-tech economy, providing hundreds of jobs. Additionally, public areas will be landscaped and developed to be a communal gathering place for residents.
The project will also provide a link road into Old Oak, opening up the wider area to regeneration. Ultimately, 25,000 new homes and 65,000 new jobs could be provided at Old Oak and Park Royal over the next 30 to 40 years.
Oaklands will also be the key transport interchange for Crossrail. This comes 10 years ahead of the superhub station and signals a major commitment to the future success of the local area.
Groundbreaking will be this financial year and work is expected to take three years to complete.