League Championship side Queens Park Rangers was "given the green light to build 605 new homes in west London," according to Bourke & Powell of the London EVENING STANDARD. The club hopes the £175M ($231M) development project for Old Oak Common "is the first step" toward building a new stadium on the site. The Old Oak & Park Royal Development Corporation -- set up to lead the regeneration of Old Oak -- "gave the club and its development partner Genesis Housing Association the go-ahead" for “Oaklands” at a City Hall meeting. The club is "being advised by Stadium Capital Developments," the firm behind the Emirates Stadium regeneration for Arsenal. As well as homes, of which 40% "are affordable," 40,000 square feet of business space will be created, "with the aim of wooing technology firms to the area" (EVENING STANDARD, 7/14). BDAILY's Billy Wood reported the site, which is "situated in West London, is part of the club’s wider investment in the Old Oak Common regeneration area, where the club has acquired a number of assets for its new stadium and associated enabling works." Commenting on the decision, QPR co-Chair Tony Fernandes "outlined the club's vision for the area and the need to support wider infrastructure projects before the club can start planning its move from its current Loftus Road home." Fernandes: "This is the start of long-term strategic investment for QPR at Old Oak. While our primary interest is securing the future of the club through the construction of a new stadium, we will only be able to deliver this by taking equity interests in wider regeneration projects such as Oaklands" (BDAILY, 7/14).
