#1bn plan to transform canning town unveiled

By Simon Hayes on May 9, 2007 12:00 AM

CANNING TOWN could be set for a #1billion redevelopment which will bring badly-needed new jobs and homes to the area
Plans to transform it into one of the most vibrant communities in London have been unveiled by the London Thames Gateway Development Corporation (LTGDC), and it hopes to attract #1.3bn of private investment to the scheme - if it goes ahead.
Under the plans around 7,000 new homes will be built and 90,000 square metres of commercial and retail space created, with the centrepiece being a new heart for the area called "Peacock Square".

The LTGDC says the project will create around 5,000 new jobs, providing a major boost to the local economy, with improved shopping and transport facilities. Waterfront areas will be included in the development, new public spaces created and streetscapes improved.
The proposals, drawn up in conjunction with Newham Council, have yet to go for public consultation and it may be some time before any building work begins.
Planners, architects and developers debated the plans at the Think07 Conference at ExCeL last Wednesday (May 2), where the LTGDC presented them as part of its commitment to developing sustainable communities in the capital. A report incorporating ideas from the debate will be produced by the LTGDC in the next few weeks.
LTGDC chief executive Peter Andrews said: "We want to create a community where individuals and families are presented with better opportunities for work and housing, but, more importantly, to create a community where they feel safe and connected."
For years Canning Town has been one of the most deprived areas in London but the LTGDC hopes this radical regeneration will put it on a par with Canary Wharf and the Olympic site in Stratford.
The Thames Gateway programme is the biggest regeneration project in Europe with government funding of over #100million allocated to revitalise areas along the river in east London.
The Canning Town development is one of eight key projects, all of which are planned to be at least part-funded by private investors.
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