£600m Canning Town plan gets go-ahead
14.01.12
The £600 million regeneration of Canning Town Centre has been given the go-ahead. The London Thames Gateway Development Corporation have approved the scheme, which forms part of Newham's £3.7billion Canning Town and Custom House Regeneration Programme. The six hectare site will reconnect the areas north and south of the A13 flyover; Canning Town Corner with Barking Road and Rathbone Market - to create a a new town centre. The first phase of the scheme, developed by Bouygues Development and partner One Housing Group, will comprise 179 homes, 424 sqm of retail and a Morrisons supermarket. Work will start on site in Canning Town during the final quarter of 2012. The entire scheme, due to be completed in 2023, includes approximately 1,100 homes, over 30,000 sqm of leisure and shops and 5,000 sqm of space for community facilities. The whole scheme is scheduled to be completed by 2023. LTGDC chief executive Peter Andrews said: "The impact of this decision will be truly transformational. Canning Town's regeneration did not happen when the DLR and Jubilee lines were put in place but this sustained effort by LTGDC and Newham Council will provide a truer platform for the area's rebirth. "With the Mayor's new development corporation soon to be established, Canning Town may well be the last example of substantial regeneration outside of the Olympic Park." Managing director of Bouygues Development Stephane Slama-Royer said: "This is a tremendous decision for Canning Town and for East London as a whole. 2012 looks set to be a monumental year for enhancing the economic prospects of the Olympic fringes in East London." Mayor of London Borough of Newham Sir Robin Wales said: "This scheme is the real game-changer for Canning Town, and illustrates the scale of our ambition when it comes to delivering regeneration in Newham. "More than that though, it is being delivered very much for the local community and with existing residents at its heart. They will benefit from a new Town Centre and all the opportunities that come with that - jobs, new homes and community facilities."