Canary Wharf's Newfoundland to be residential
Newfoundland will become the first residential tower on Canary Wharf.
Ahead of moves into low-rise, live-work communities on Wood Wharf, Canary Wharf Group confirmed this week it is in talks with the planning authorities to build apartments in the heart of the financial district.
Songbird, CWG's parent company, announced pre-tax profits of £201million for 2012 and said that it was now entering the next phase of its development, moving into creative clusters and "animated" communities with offices, shops and homes intermingled.
Company secretary John Garwood told The Wharf: "Newfoundland is going to be the first and only residential building at Canary Wharf.
"We're talking to the local authority and we're going to put in an application in October.
"We can't take approval for granted but this is the proposal."
He said that plans under discussion with Tower Hamlets Borough Council moved away from square towers to something softer with "a curved shape".
He said: "The forecasts are of a population growth of a million between now and 2020.
"We build into demand. Twenty years ago the demand was the financial sector and the Canary Wharf style development. Although that sector is very much alive and kicking there is a new phase with a varied offering."
While Newfoundland signals the intention the development of Wood Wharf, with up to 2,000 homes, will be its realisation.
Mr Garwood said: "The growth sectors are quite clearly TMT [telecommunication, media, technology] sectors, the creative sectors and so you've got to build buildings that are attractive to those communities."
He said it was hoped that Wood Wharf would become home to creative industries, in fashion, design and the media, reflecting a new way of living and working.
"Lifestyle is going to change. People will chose to live in London and near where they work. People are not going to commute in the way that generations have done because of the inconvenience.
"So the retail will be above ground which will animate the street level. The commercial and the residential will be mixed together and there will a low rise element - it won't feel like Canary Wharf, it will feel more like a community.
"There could be a market place so the public spaces are animated and we're also going to have a cultural offering - art galleries etc - embedded in.
"There will be some parks and spaces there as well and it will have a more relaxed feel about it."