Gateway to survive downturn, says housing minister

Gateway to survive downturn, says housing minister

Housing minister Margaret Beckett has said the London Gateway is well placed to prosper, despite the economic downturn.

The regeneration, which stretches from east London on both sides of the river and out towards the estuary along the Kent and Essex banks will include over 300,000 homes.

Ms Beckett said: "The financial downturn poses new challenges for towns and communities across the country. But I believe that we have sound reasons to remain optimistic for the Gateway's long-term prospects," adding that the project is backed with £9.6 billion of government money.

The projects include a 47-acre eco-quarter, designed to encourage greener living.

Thames Gateway has been designed to provide new homes and economic development in the area encompassing the east of the capital and the communities facing the estuary on both sides.

This includes a target for 40,000 news homes to be constructed through the auspices of the London Thames Gateway Development Corporation in the east of the metropolis by 2016.

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