The owners of the Mall in Walthamstow have not announced any plans to build affordable accommodation in the proposed redevelopments, which include up to 500 new homes.
Capital & Regional has proposed that the new, high quality homes “might be arranged in a series of tall buildings perhaps a cluster of four, ranging in height potentially between 12-27 storeys above the retail centre”.
A two-bedroom property in Orford Road, E17 was sold in March for just under £700,000.
The plans to redevelop the Mall have been accepted in principle by Waltham Forest council’s Town Centre Area Action Plan (AAP).
According to the Capital & Regional proposals, the AAP supports the potential of tall buildings on site and the delivery of 2,000 new homes in the town centre over the next nine years.
The £120m planned development is set to include a gym, “aspirational” shops and restaurants and create up to 350 permanent new jobs.
A public exhibition was held on 8,9 and 16 April for members of the public to review and comment on the plans. There will be second public exhibition in the late summer, which is a chance to see the completed designs before they are submitted to the council.
Capital & Regional executive director Mark Bourgeois said the initial response has been “positive”.
He said: “The plans align to the wider vision for Waltham Forest council to deliver new shops and homes for the borough, so it’s great to see so many people on board.”
The first residents meeting to discuss the Walthamstow plans and to oppose the loss of land and homes for low-income families on Saturday 21 May at 2pm in Harmony Hall, 10 Truro Road E17 7BY.