A decision on whether or not to go ahead with a multi-million pound project to revamp the area around Walthamstow Central Station could be made next week.

The vision for the area of Selborne Road and Hoe Street includes 79 new homes and a three-unit shop space on the corner and has been dubbed the ‘gateway to Walthamstow’ by developers.

However, when the plans reached the last planning committee, it was revealed the developers are offering no social housing in the ‘phase two’ development.

In the first part, 51 per cent of all homes were available for affordable rent.

The committee failed to see the justification and deferred the decision to the next meeting, which will now be held on August 4.

Developers, Solum Regeneration have been asked to show why they believe it is not ‘financially viable’ to offer affordable homes.

At present, the council’s target is to achieve 50 per cent social housing in all new developments.

At the last meeting, Nick Clarke, applicant for Solum Regeneration, called the whole development a “major catalyst” for future development in Walthamstow.

But said the amount of social homes had to be taken together.

He said: “Across phase one and two there is 24 per cent affordable housing.

“Should the viability change the council has the ability to claw back affordable housing contribution which will be sewn into the section 106 legal agreement.”

A decision is set to be made by the planning committee on August 4, at the town hall.