Sustainable Projects

Ikea to Build Eco-Houses in London, for 2012 Olympics

You probably know Ikea for its cheap furniture and Swedish meatballs, but the company is about to enter the British real estate business with an eco-housing development in Stratford beside the Olympic Park.

The 1,200-home Strand East development, built around canals by Inter Ikea – the Swedish furniture giant’s investment arm – is designed to be a “mini-Venice” with moorings, a water-taxi service and a floating cocktail bar. It will also have a 130ft illuminated wooden tower and form the gateway to the Olympic stadium and the mayor’s “Hubble Bubble” observation deck. “It will be the newest and most interesting development in the whole area” said Harald Muller, business development manager at Inter Ikea. The  new eco-development will be the antithesis of the converted athletes’ village, where it has been claimed properties are so close you can “spit from one balcony to another”. Around 40 per cent of the properties will be three-bedroom mews homes, while courtyards and a public square will encourage neighbours to interact.

Demolition work in the area has already begun, prices for the future sustainable houses is not yet known as planning permission hasn’t yet been obtained. Ikea has been reinvesting its store profits into building projects all around Europe, and the company believes its aim of slashing production costs could eventually remove the need for “affordable” homes.

 

 

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