Family Mosaic is pleased to announce that work has started on-site at 259 City Road, Islington, delivering new homes as part of a key waterside development.

This will deliver the first phase of the build at City Road Basin, which adjoins the historic Regent's Canal. 

259 City Road is part of a wider redevelopment plan that will significantly reinvigorate and regenerate the City Road area of the borough.   It is the culimination of a masterplan developed by Family Mosaic alongside partners LB Islington, Groveworld, Miller Developments, British Waterways and Fidelity Investments.

The 15-storey building is the first of three residential towers to be developed at the site; Family Mosaic is working with building contractor Ardmore Ltd and the design is being managed by Architects Bennetts Associates.

The 100 affordable homes will be built over the next two years and completion is scheduled for February 2012.  Half will be available to purchase through a shared ownership scheme, and the remaining 50 will provide much-needed rental accommodation to new residents.

Dick Mortimer, Group Director of Development at Family Mosaic acknowledged the key input of the Homes and Communities Agency in getting the development underway:

“I am delighted to be part of this major regeneration project in City Road which will culminate in a superb development in an excellent location.  Family Mosaic and the Homes and Communities Agency have worked extensively to kick start this project by both providing funding to enable the affordable and private sector development.  This partnership will not only see the start on site of 259 City Road, but will also help to drive the further phases of the project forward”.