Pursuits
London Developer Plans $230 a Week Homes to Tempt Tech Workers
- Hackney tech and creative industry workers would rent homes
- Developer also plans 140 other homes, office space in tower
Old Street's Silicon Roundabout in London.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
A London developer is planning a 30-story tower that will include 50 low-cost homes for young people working in the technology and creative industries.
The apartments at 225 City Road -- near the so-called Silicon Roundabout technology hub -- would be priced as low as 150 pounds ($230) a week, compared with an average of 370 pounds for a one-bed home in the neighborhood, according to broker Foxtons Group Plc. Plans for the tower, including a total of 190 homes and workspace targeted at technology companies, will be discussed by Hackney borough council Wednesday night.