Canary Wharf development given go-ahead
Tower Hamlets Council has given the green light to a new development at Canary Wharf.
The new venture will see £150 million spent on creating several skyscrapers for businesses, a park, a specially constructed canal and new homes, the Evening Standard reports.
A joint venture between Canary Wharf Group, British Waterways, and Ballymore Properties, the plan will also include extensive investment on transport links, including £100 million for a Crossrail station, £9 million to enhance the Docklands Light Railway (DLR) and £5 million to upgrade bus services.
Such a development may encourage more people to rent in the area and take advantage of the economic boost that it will bring.
Neighbouring boroughs such as Greenwich and Lewisham may also benefit, particularly as they are connected by the DLR to Canary Wharf.
In a separate story, the Standard reported that Tower Hamlets is thinking of bringing in its own congestion charge, which council chiefs believe will improve the local environment and make travelling easier.
Concern centres on the amount of traffic coming through the borough into Central London via the Blackwall Tunnel.
Published 10th October, 2008
© 2008 Estates IT Limited
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Tower Hamlets council has given the green light to a new development at Canary Wharf.