Trowers advises Poplar HARCA on new joint venture partnership with Hill
International law firm Trowers & Hamlins has advised Poplar HARCA on the selection and the appointment of Housebuilder of the Year, Hill as joint venture partner on the delivery of the Teviot Estate regeneration in Tower Hamlets, which could include more than 2,500 new homes, new green and play spaces, shops, community and faith facilities, and improved infrastructure.
By developing collaborative relationships with Teviot residents and businesses, the Joint Venture will deliver a comprehensive and inspiring social value package for the community over the lifetime of the development, including employment and training opportunities, enhancing of community facilities and contributing to existing services. There will also be extensive infrastructure investment to better connect the Teviot Estate to surrounding areas and transport hubs.
The vision is to create a safer and more inclusive community and with this in mind, the joint venture will create a Community Chest Fund to give local organisations the opportunity to bid for funding, unlocking socio-economic value.
Steve Stride, Chief Executive, Poplar HARCA said:
“Hill demonstrated a complete alignment with the community and our vision for the Teviot regeneration to be a “best in class” exemplar for urban regeneration, putting residents and stakeholders at its heart.
Trowers partner Amy Shaw, who led on the deal added:
"We are delighted to have worked with Poplar HARCA over the last 18 months to support them in their search for a JV Partner for Teviot. Trowers has worked with Poplar HARCA from early in the procurement process, advising on process, JV Structure and all corporate, property and construction aspects. We are working with the parties to help bring the scheme forward, delivering homes and improving the lives of residents at the Estate, particularly through Poplar HARCA's strong commitment to social value, and look forward to seeing the plans that Poplar HARCA, and their selected partner, Hill, bring forward."