£1bn academic quarters gets go-ahead
A £1billion scheme to develop a new UCL university quarter and create an estimated 3,300 jobs in Stratford has been agreed by Newham.
The council now enters detailed negotiations with University College London over the 23-acre site at Greater Carpenters Neighbourhood.
UCL's proposals include academic and research facilities and new residential accommodation for students.
The university quarter would include activities in Engineering, Population Health Sciences and Built Environment, as well as improved public realm and landscaping of the area.
With Siemens recently opening a £35million sustainability hub in the Royal Docks, it is hoped that the co-location of one of the world's leading universities to Newham will bring investment to Stratford and the Royal Docks Enterprise Zone.
Mayor of Newham Sir Robin Wales said "This is a fantastic opportunity for Newham residents and I am looking forward to working with UCL to ensure our joint vision is realised.
"This decision supports our vision to transform the Greater Carpenters Neighbourhood into a high quality educational, commercial and residential quarter benefiting Stratford and the rest of the borough.
"It will also act as a catalyst for further investment. High calibre businesses such as Siemens have recently recognised the potential within Newham and are investing in the area and working with our partners including UEL and Birkbeck, a new academic quarter will play a valuable role in the ongoing regeneration of the wider borough.
"This important scheme will also inspire our youngsters to look at what prospects are available to them as well as creating fantastic long term economic benefits for residents and creating jobs and opportunities for years to come."