Cuba Street tower at Canary Wharf could be scrapped
A construction group behind plans to build a 54 storey development on the doorstep of Canary Wharf is threatening to scrap its proposal.
Turkish firm Agaoglu Group is reported to be considering the future of the scheme due to pressure from the Greater London Authority for it to reduce the size of the tower.
The company has long planned for the development at Cuba Street, on the Isle of Dogs, but has faced opposition over its 157 metre height.
The two towers - the second of which would be 40 storeys - would include around 400 homes, a five-star hotel and office space.
However Agaoglu Group owner Ali Agaoglu said talks had reached a stalemate.
In an interview with Arabian Business he said the "municipality is trying to reduce it to 40 floors and it's a major problem".
He said this would see the scheme lose its "essence" and threatened to cancel the project unless the GLA relents.
An application for the site was made to Tower Hamlets Council back in 2011 but was pulled due to opposition to the project.
The developer is in talks with interested parties before putting in another application. Mayor Boris Johnson would have the final say over the scheme.