RPC and Dentons have taken roles on a major London regeneration deal that will see the development of 645 flats in Greenwich.

Hadley Mace, a joint venture (JV) between construction company Mace and developer Hadley Property Group, has been instructed to deliver the £225m revamp of Greenwich Square in south London under the Government's Public Land Initiative (PLI) model.

The PLI is a new scheme designed to get homes built on land owned by public bodies. Under the scheme, developers will be given Government land to develop, with payment deferred until the project is complete and the units are sold.

An RPC team led by construction partner Stephen Malley, with assistance from real estate partner Karen Howard, advised the Hadley Mace JV. Malley said: "The PLI is a cutting-edge tool to unlock development and stimulate house building. Greenwich Square is one of only eight initial PLIs, so this is a mould-setting deal that will help set the bar for similar schemes in the future."

Meanwhile, a Dentons team led by London real estate senior associate Gillian Goldsworthy initially advised the Homes and Communities Agency and, more recently, the Greater London Authority (GLA) after the responsibility for the project shifted to the GLA following the Localism Act 2011. 

The regeneration agreement, which has been backed by London Mayor Boris Johnson, also includes the development of a public square, an NHS health centre, retail and restaurant facilities and a new Royal Borough of Greenwich leisure centre.