Government grant to kick-start mega London housing project

London

A MULTI-MILLION project to build 3,500 homes in the heart of London is to start within months following the award of a US$300 million government grant to the developers. It will be one of the biggest housing projects in inner London for many years.

The scheme, first conceived more than 10 years ago, will transform a large area of London's Canary Wharf, where residential properties already command average price tags of between US$1.5 million and US$3 million. The new housing stock will include 607 affordable home…