Chelsfield and Stanhope’s £3.5bn Stratford City redevelopment has been approved by the Mayor of London, Ken Livingstone. The scheme will provide 5m sq ft of offices; 1.5m sq ft of retail, 2,000 hotel rooms and 4,500 homes, 30% of which will be affordable housing. There will also be significant improvements to local and regional transport links. The tallest building will be a 50-storey hotel and residential tower next to the new Eurostar station.
The development is one of the biggest single planning applications ever submitted in London, and will see the transformation of a stretch of land surrounding Stratford station. The development site is currently owned by London Continental Railways.
The developers have pledged £300m for essential infrastructure and £115m for community benefit. Land will be set aside for a new school and community facilities.
Commenting on the decision, Livingstone said: “Stratford City will transform this area of east London into a thriving new urban community and will provide a massive boost to the regeneration of the Thames Gateway. The new homes, jobs and retail facilities and improved transport infrastructure planned for the site would substantially improve the facilities on offer to visitors to a London Olympic Games in 2012.”
Chelsfield Managing Director, Nigel Hugill, added: “The thousands of new homes at Stratford City, new employment opportunities and new shopping facilities will make Stratford City a model for demonstrating the quality of regeneration that can be achieved by cooperation between the community, the London Borough of Newham and the Mayor of London.”
The London Borough of Newham granted outline approval for the plans last month. Construction work is expected to begin in 2006, with completion scheduled for 2026.