IKEA Plans To Build A Private Neighborhood In London
The Swedish furniture giant has started an urban planning project in the UK by acquiring 11 hectares of land.
IKEA has expanded its brand from products to homes and now to a whole neighborhood, with plans to start construction on 11 hectares of land in London next year, which will feature 1,200 houses and apartments fully owned by the Swedish furniture company.
According to The Globe and Mail, 40% of homes in the all-rental private neighborhood known as Strand East, will be large enough for families, and they will be priced to appeal to a range of incomes. The area will also include a few condominium towers, offices for high-tech firms and a hotel. An underground parking garage will keep cars off the interior streets, which will feature bus lanes, pedestrian walkways, squares and public spaces. Project manager Andrew Cobden said: