The Committee approved the 'One Nine Elms' scheme that proposes two mixed-use tower blocks and the 'New Covent Garden Market' scheme that proposes to regenerate 25 hectares and deliver nearly 2,500 new homes.
The two schemes would provide up to 2,978 new homes in the Nine Elms regeneration area, new public spaces and would contribute approximately £73 million towards major infrastructure upgrades including the Northern Line Extension.
Proposals for the regeneration of the 'New Covent Garden Market' include the regeneration of the 40 year old market to provide up to 2,491 new homes, shops, cafes, bars, commercial space and a 200-bed hotel on land no longer needed for the market.
The proceeds gained from the proposed mixed use development would be used to pay for the regeneration and modernisation of the 40 year old Covent Garden market facilities, which is aimed at safeguarding the future of its 200 independent businesses and 2,500 jobs, the Council said.
A contribution of around £63m has been secured as part of the planning consent for the Covent Garden scheme, which would be used to improve local infrastructure. The majority would be spent on a two station extension of the Northern Line, the Council said.
New cycle routes, footpaths and public spaces will also be created including a section of the proposed Nine Elms 'Linear Park'. The proposed plans also include roof top sports pitches, a gym and community facilities including a doctor's surgery. An energy centre would also be created on the site which would result in CO2 reductions of up to 57%.
The application was submitted by the Covent Garden Market Authority (CGMA) and developer Vinci St Modwin has been selected as the scheme's preferred development partner.
The approved 'One Nine Elms' scheme proposes to redevelop a 1970s tower block on the corner of Wandsworth Road and Nine Elms Lane to provide 487 new homes, office space and a hotel. The scheme would be developed by a joint venture between CIT and Green Properties.
The tower block would be replaced with two new towers, one of 58 and one 43 storeys, that would form part of the emerging tall building cluster at Vauxhall, the Council said. At ground floor level the buildings would be set around a new public square lined with shops, cafes, restaurants and bars.
New footpaths would run through the development, providing pedestrian links between the Vauxhall interchange, the Thames Path and the Nine Elms Linear Park. The approved plans propose to make 50% of the site public realm.
Of the proposed 487 new homes, a total of 51 would be made available through shared ownership and the developer has agreed to make an additional contribution of £6.8m towards providing more affordable housing in the local area, the Council said.
Under the planning agreement with the Council the developer would contribute more than £10m towards improving local infrastructure including two new Northern Line stations in Nine Elms.
The Nine Elms regeneration zone includes 450 acres of land between Battersea Park and Lambeth Bridge on the South Bank of the Thames and covers both the London Borough's of Wandsworth and Lambeth.
Once the construction process is complete the new Nine Elms will provide an additional 25,000 new permanent jobs for London as well as 16,000 new homes, the Council said. The proposed Northern Line Extension would also provide two new tube stops in Nine Elms. One would be located at Wandsworth Road and another at Battersea Power Station.
Last week Lambeth Council approved an application by Sainsbury's for the redevelopment of its Nine Elms supermarket, which also includes the proposed development of 737 new homes. A preferred bidder has also been chosen for the redevelopment of Battersea Power Station.
At 195 hectares, Nine Elms is the biggest redevelopment zone in central London. More than 1,000 new homes are currently under construction here and another 12,000 are coming through the planning pipeline, the Council said.
