More affordable homes for local people in Wood Street

Precision House, Number 1 Wood Street, completed last week with residents set to move in this December.

The site of the former Wood Street library, on the corner of Wood Street and Forest Road, has been developed into a service centre for the local community alongside much-needed homes for Waltham Forest residents. 

The building will provide 67 affordable new homes prioritised for local people (29 for social rent and 38 for shared ownership) and on the ground floor and first floor, a facility for residents to access an innovative space to host some of the Council’s most important customer facing families and housing services, and a commercial unit for a small shop or café which will provide job opportunities for local people.  

The new facility on the ground and first floors will give local people access to the Families and Homes teams in a safe and welcoming environment, in line with the Council’s commitment to ensure every family and every child are given every opportunity. 

Cllr Grace Williams, Leader of Waltham Forest Council, Cllr Ahsan Khan, Cabinet Member for Housing and Regeneration, Cllr Vicky Ashworth, Cabinet Member for Stronger Communities, and Cllr Kizzy Gardiner, Cabinet Member for Children and Young People, marked the completion of the residential building with the Council’s award-winning construction partner, The Hill Group.  

The building is a new landmark on the important junction of Wood Street and Forest Road and the façade includes a nod to the former building with replicas of the name plaques that adorned the previous home to Wood Street Library. 

A new replacement library for Wood Street opened on Thursday 13 August 2020, a few minutes' walk up the road at the Marlowe Road development.  

In May of last year, The Greater London Authority (GLA) announced funding for several developments across Waltham Forest, including Wood Street Families and Homes Hub. 

Thanks to the funding, all 67 new homes will be completely affordable, with 29 for social rent and 38 for shared ownership, bringing more new, high-quality homes to Waltham Forest residents.  

Cllr Grace Williams, Leader of the Council said: ‘’Our housing mission is simple: we want to tackle the housing crisis head on. But we know that solutions to the housing crisis are far from simple. That is why we are doing everything we can to build good quality homes quickly and efficiently.  The quality of these homes is second to none and have been designed to be environmentally sustainable and lower people's energy bills. 

‘’All of the new homes at Wood Street are affordable with the offer of 29 social rent homes, and the option to part own through one of the 38 shared ownership homes, helping Londoners get a foot onto the property ladder. We are excited that the first residents will soon get to move in and set up home in time for Christmas.  

‘’We are also eagerly anticipating the completion of the Wood Street Families and Homes Hub which will be ready next year, so that we can better help residents to access services like housing and family support in a central location.’’  

Michael Turner, Regional Director at The Hill Group, commented: "The completion of Precision House is a significant milestone in our partnership with Waltham Forest Council. By delivering much-needed affordable homes alongside vital community services, this development reflects our commitment to creating sustainable, community-focused spaces that benefit local people. We are proud to have contributed to this transformative project and look forward to seeing its positive impact on residents and the wider community." 

During construction, Hill, Waltham Forest’s construction partner, has brought many benefits to the local community such as providing job opportunities for residents including training opportunities, apprenticeships and supporting the ‘Women into Construction’ programme, through to volunteering and contributions to local projects. 

Families and Homes Hub is expected to be completed in early 2025.