Floating Village at Royal Docks back in the pipeline
Plans for a stunning floating village on Royal Victoria Dock have been boosted by Boris Johnson after he promised funding to procure the land.
The London Mayor signed off a £270,000 deal this week to push the scheme forward.
It proposes a residential-led development, with the potential for bars, restaurants, a hotel and leisure activities.
It will see the water remain in the dock and will see a "series of piers, jetties and floating islands".
The funding will see the Mayor's GLA Land and Property Ltd (GLAP) and the Royal Docks Management Authority (RoDMA) join forces.
RoDMA currently pays a nominal rent on a 225-year lease on the site, which is owned by the GLA. The deal will see the RoDMA surrender part of the lease.
The £270,000 includes £75,000 of legal fees, £90,000 for property advice and technical due diligence and £105,000 for costs already incurred by RoDMA.
Private sector investment into the scheme will now be sought to fund construction of the site.
A steering group, led by the Mayor's deputy for housing, Richard Blakeway, is to be established to support this.
The Mayor hopes the floating village will work with the Siemens Pavilion and the Emirates Air Line to boost employment opportunities and tourism in the area, as well providing much-needed extra housing.
In 2011, architects Egret West had received planning approval for a floating village as one of the winning applicants for a competition to redevelop the Royal Docks. However, the scheme failed to materialise.
In March this year the Mayor said he was pushing the proposal forward, announcing: "This site is unique. It has the potential to become one of the most sought after addresses in the capital while breathing new life back into London's waterways."