Peabody has bought a former medical teaching campus in Archway for the site of a new £100 million housing scheme
The proposed development is set to include 450 homes, commercial buildings and community facilities.
The Islington site on Highgate Hill, which was once a medical teaching campus for University College London and Middlesex University, sits within a conservation area and includes a number of existing buildings.
Peabody’s head of new business Craig Horn said that the investment would complement the regeneration already happening in the Archway area. He added: ‘In addition to providing hundreds more much-needed homes we are looking at a range of community uses which will benefit the whole neighbourhood.’
Jeremy Stibbe, executive director of development and sales at Peabody, commented: ‘Peabody is already rooted in Islington, providing homes, services and community support for our residents. We are really excited about the potential for the Archway Campus site, which will complement and add to all of the great work going on in the area already. We have the experience, the expertise, and the understanding to deliver a high level of affordable homes whilst making the most of the key conservation and heritage assets in the area. We look forward to working with the council and the community as we develop our plans.’
Plans for the scheme are at the early stages and an architect has not yet been appointed for the work.
A public consultation for the site will start later in the year.
Peabody plans £100m housing scheme for Archway