£1 billion regeneration plan includes new rental properties
Regeneration has been ongoing for a number of years in the city. It is showing no signs of stopping just yet. The transformation of London has been vast and immense. One of the plans already approved by Southwark council is the Elephant and Castle regeneration scheme.
Mayor Sadiq Khan has supported the plans which will overhaul the run down shopping centre and is pitched at a costing of £1 billion. The plans include a new retail centre plus a new base for the London College of Communications. Furthermore, there will be 979 new rental properties in this SE1 development together with leisure space. 35% of the overall build will be affordable housing.
A new town centre with retail & leisure space and housing for Elephant and Castle
Elephant and Castle is undergoing a revival, and regeneration is set to make it a major hub for South London with a new civic square, green spaces, homes and tram routes.
A spokesperson from Delancey, developer of the Elephant and Castle Town Centre Regeneration Project, has said ”we remain committed to maintaining the area’s unique and vibrant culture. The new town centre will include a mix of high street and independent retailers including existing shopping centre traders, alongside enhanced restaurant and leisure opportunities. It will also deliver much needed housing on a site where there is currently none.”
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