Plans to redevelop the Earls Court and West Kensington Opportunity Area into an exciting new urban district containing more than 7,500 new homes and creating 12,000 new jobs have been approved by the Royal Borough of Kensington & Chelsea ('RBKC').
The scheme will comprise of 10.1 million ft² (approx. 938,290 m²) of development.
Capital & Counties Properties PLC ('Capco') welcomes the decision made last night by the Council's planning committee to resolve to grant outline planning permission to turn the Earls Court and West Kensington Opportunity Area ('ECOA') into a vibrant, new urban district.
The Earls Court Masterplan sits across two boroughs and the RBKC decision follows the September approval by the London Borough of Hammersmith & Fulham ('LBHF') for the redevelopment. Sir Terry Farrell's Masterplan is based on the concept of 'Four Urban Villages and a 21st Century High Street' and is inspired by the best of London including garden squares, mansion blocks and open space.
The scheme will comprise of 10.1 million ft² (approx. 938,290 m²) of development including 7,500 new homes, around 1,500 of which will be affordable, offices, hotels, work space, education, cultural and community facilities, as well as a new five acre park for London.
Ian Hawksworth, Chief Executive of Capco said: "We are delighted that the Earls Court Masterplan has now been approved by both RBKC and LHBF. The project has real momentum and we look forward to working with the local authorities to deliver Sir Terry's vision for a new urban quarter in this exciting part of London."
The Section 106 agreement, which provides for significant investment in improvements in the area including transport, employment and training, is being finalized with the local authorities. The Greater London Authority is also considering its Stage 2 report on the Masterplan which is anticipated in the coming weeks.
Source: Capital & Counties