Out-Law News | 02 Apr 2014 | 1:54 pm |
The proposed 'innovation quarter' will deliver 2,500 new homes as well as 2 million square feet of commercial space and 3m sq ft of 'brand pavilion' space for businesses to showcase products.
The partnership, which comprises developers Chelsfield Properties and First Base, has updated its plans following a public consultation earlier this year. It is planning to submit an outline application to Newham Council in the spring.
Silvertown Partnership said it expects the scheme to attract 12m visitors a year and contribute £260m annually to the London economy as well as £33m to the local economy.
The site is owned by the Greater London Authority (GLA) and the scheme is part of a wider vision for London's Docklands. The Silvertown Partnership entered into a master development agreement with the GLA for the scheme in June last year.
“We want to secure the future of the Royal Docks: our vision for Silvertown Quays will re-engage the heritage of enterprise and innovation in the Royal Docks; securing a vibrant future by creating up to 14,000 new jobs and 2,500 new homes in a new and enlivened waterfront destination,” said Silvertown Partnership's Sir Stuart Lipton in a statement.