A division of the Swedish furniture company is developing a 6,000-resident rental community in London, complete with shops and cafes.
The neighborhood will include 1,200 condos, townhomes and single-family homes, with 40% of those homes big enough for families. The neighborhood also will include public spaces, offices, stores, cafes and a hotel. There will not be an Ikea store.
"We are in keeping with the Ikea philosophy: We don’t want to produce for the rich or the super-rich; we want to produce for the families, for the people,"
Harald Müller, the head of LandProp, the development division of Ikea parent company Inter Ikea, said in The Globe and Mail. "We want to be smart enough in our design that we can offer the product for a reasonable price."The homes will be energy-efficient, and the neighborhood will mostly be car-free, with an underground parking garage for residents' cars.
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