Out-Law News | 24 Feb 2015 | 4:40 pm | 1 min. read
Ballymore has submitted a planning proposal for a 2.43 hectare scheme which includes the demolition of existing buildings on Hercules Wharf, Union Wharf and Castle Wharf and the construction of 16 new blocks, ranging from three to 30 storeys in height.
A total of 834 residential units are planned for the development, of which 107 will be affordable, according to the affordable housing statement submitted with the planning application. Homes would be in a mix of studio, one-, two-, three- and four-bedroom apartments, with the majority of apartments having two bedrooms or fewer.
The proposals also include 1,590 square metres of ground floor office space, 227 sq m of educational space, 9,968 sq m of public open space, children’s play space, a residents' gym and basement parking for 131 vehicles and 1,304 bicycles.
The scheme would be located directly to the south of Ballymore's City Island development site, at which more than 1,000 homes are planned as part of a £2.2 billion joint venture with property investment company Eco World Investment.
According to the planning statement submitted with the application, "the objective of the proposed development is to reinvigorate an underutilised brownfield industrial site with a well-designed residential-led mixed-use development".
The planning statement said the proposal would "achieve a wide range of substantial regeneration benefits for the London Borough of Tower Hamlets in general and more specifically the Leamouth Peninsula communities".