The London Thames Gateway Development Corporation (LTGDC) has given the green light to the £180m redevelopment of Rathbone Market in Canning Town, East London.
The approval from the LTGDC’s planning committee is good news for developer English Cities Fund, which was earlier criticised by Mayor of London Boris Johnson for the lack of affordable housing in the scheme, although the Mayor approved of the scheme in principle.
English Cities Fund – a joint venture between Muse Developments, Legal & General and the Home and Communities Agency – have since addressed the Mayor’s initial concerns about affordable housing, climate change and transport in the 680,000 sq ft scheme.
The scheme will now be referred back to Johnson. It is expected that planning permission will be granted in April 2009.
English Cities Fund projects director Howard Morris said it was a positive first step for the development, which is part of the wider Canning Town regeneration, and he looked forward to receiving the Greater London Authority’s support in the next few weeks.
He said: ‘At a time of great uncertainty we and our partners are looking forward to delivering positive change and a vibrant new hub in Canning Town, complimenting and contributing towards the massive changes that the whole of East London is undergoing with the arrival of the Olympics in 2012.
‘The next few years are a crucial time for regeneration projects across the country and our commitment to delivering this development in Canning Town shows that we will be ready to drive forward key projects with the upturn in the economic cycle.’