The London Thames Gateway Corporation, Greater London Assembly and London Mayor Boris Johnson have given the green light for the English Cities Fund and the London Borough of Newham’s plans for the redevelopment of Rathbone Market in London’s Canning Town.
The 680,000 sq ft scheme is a key part of plans for the wider regeneration of the Canning Town and Custom House area.
The residential and retail development is being designed by architect CZWG and includes a 21 storey building.
Mayor of Newham Sir Robin Wales said: ‘This is a major step forward in the regeneration of Canning Town.
'It’s a positive move towards shaping the local vision for the area. One of the council’s priorities in supporting regeneration is to improve facilities for existing businesses and to create thriving town centres.
This is an exciting and ambitious project giving the local community the full range of facilities right on their doorstep.’
Howard Morris, projects director at the English Cities Fund, a joint venture between Legal & General, Muse Developments and the Homes and Communities Agency, said: ‘Now, with the full backing of the GLA, the LTDGC, Newham Council and the local community, we can be ready to drive this hugely important project forward.
‘Our plans will help revitalise the centre of Canning Town and give Rathbone Market the chance to grow and compete as a successful market attraction in London all year round.’