AN INTERESTED greyhound racing operator is set to submit an application to transform Walthamstow Stadium into a mixed use racing track and housing development.

Save our Stow campaigner Ricky Holloway said the group has been working with three companies interested in running the stadium either individually, or as a group.

Designs have been created by architects Space Lab for the iconic Chingford Road stadium and will be submitted to the council on June 20.

The application will be for a mixed use development with a greyhound track and social housing, based on stadium designs at tracks in Ireland.

The plans include a track and 120 houses, which is 370 fewer than the designs L&Q consulted the public on, for 490 social and private homes.

Mr Holloway would not disclose who is interested in running the stadium but said they are, a large restaurant company; an overseas investor; and a bookmakers.

He said businessman Nick Budimir and West Ham owner David Sullivan are still interested in buying the stadium.

Mr Holloway said the interested party is seeking to lease the greyhound track from L&Q for three years, leaving the housing associaton to manage the housing.

He said: "I think the plans are in keeping with what local residents said they wanted when we spoke to them. They said they wanted it to provide jobs and help the local economy.

"It is also not a massive housing estate, so it wouldn't put so much pressure on hospitals and schools nearby.

"This is the most sensible way forward and we call on L&Q to act responsibly and sensibly."

SOS representatives met the Mayor of London Boris Johnson yesterday to discuss the new proposals and has the support of Chingford MP Iain Duncan Smith and Walthamstow MP Stella Creasy MP.

Stella Creasy MP said: "We all believe the deal to be done is a compromise to get the dog track back and to get housing for L&Q. The question is whether L&Q are willing to negotiate.

"I'm clear we need the dog track back. It is good the London Mayor has accepted that. It is one of my priorities and is very much a part of the regeneration of Waltham Forest."

Mr Holloway said SOS will continue to lobby the council to make a compulsory purchase order on the site for the longer term.

He added: “It has been left to decay for two years. It is now time for them to act. The site cannot be allowed to sit there when the Olympics is coming up, it is an eyesore and a nuisance to the borough."

Following London & Quadrant's public consultation in February, a planning application by L&Q was delayed after it ended its partnership with Yoo Capital.

L&Q said at the time that designs are being reviewed and are expected to be submitted to the council this summer.

An L&Q spokesperson said: "We haven’t received any offer to lease or purchase the site and in the meantime our plans for the development continue apace.

"We remain open to discussion and have maintained a constant and transparent dialogue with all who have a stake in the future of the area. But unsubstantiated speculation simply distracts from what is at the heart of this debate: ensuring the people of Waltham Forest have access to much needed modern, affordable housing."

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