English Cities Fund, developer of Canning Town's Rathbone Market scheme, has secured a detailed planning consent to take the development into its second phase. The scheme is a joint venture between Muse Developments, Legal and General Property and the Homes and Communities Agency. Created by the government, it aimed to identify and break through the barriers to institutional investment and pave the way for higher levels of private investment in the re-shaping of towns and cities.
This phase will comprise of two new public squares, one of which will form the attractive new open market square, acting as the centre piece of the finished Rathbone Market scheme featuring purpose built facilities for the market traders. In addition there is the delivery of 165 new homes; a brand new 10,000 sq ft public library and community centre; and 12,000 sq ft of ground floor retail space. Duncan Cumberland, Project Director, ECf said: "We're pleased to be able to move forward with the redevelopment of Rathbone Market. Phase two will bring significant positive changes to the community of Canning Town."
When the works commence the market will be temporarily relocated along Barking Road and also see the demolition of Thomas North Terrace, residents of which have been offered new homes within phase one of the development. Adam West, Partner from CZWG architects said: "It is particularly exciting to be able to complete the new market square in combination with the rest of the public realm and the new library. This phase of the project will make a real difference to the enjoyment of the local environment."