The announcement comes at a critical time for the development which has suffered with many other developments in the wake of the recession. Earlier this week, developer Oakmayne, who have completed two buildings and are developing Oakmayne Plaza in the area, advised that their project does not yet have sufficient funds to complete.
The £1.5 billion scheme set for completion in 2014 is formed of 6 'character areas': Walworth Road, Civic Square, Town Park, Heygate Boulevard, St Mary’s Churchyard, and the Railway arches and Market Square. Within these spaces will be the addition of 5,300 new homes, 75,000m2 of new shopping space, five new open spaces, a series of landmark buildings including a City Academy, a new civic square, improvements to transport links, including a new station, upgraded tube connections, new bus and cycle lanes and better facilities for pedestrians. Creating 4,000 jobs in the area the scheme will be completed with a zero increase in carbon emissions and the area has been designated as an Energy Action Area, as defined in the Mayor’s Energy Strategy for London.
Foster + Partners have developed designs for Walworth Road including the new rail station. Landmark buildings include the Strata tower, set for completion next year, which features three wind turbines integrated into its roof.
Niki May Young