The outline plans involve the demolition of the existing buildings on the site and the construction of a number of new buildings reaching up to 12 storeys in height to provide between 2,300 and 2,469 new homes. The development will also have new shops as well as business and leisure space and a new park.
The officers recommended (88-page / 664KB PDF) approval despite the fact that the proposed affordable housing level of 25% falls below the 35% target requirement set out in the Southwark Plan. The officers said that the developer had submitted detailed evidence to demonstrate that a scheme providing 35% affordable housing would be unviable and that even a 25% provision represented a "very big risk" on the developer's part.
The officers proposed that the level of affordable housing should be subject to review, with scope for increasing the level if there was an economic upturn making a higher level viable.
"Officers are satisfied that in the light of the viability evidence and the scope for some review in the specified circumstances described above, that an appropriate balance has been struck between ensuring the deliverability of the scheme and securing as much affordable housing as is realistically possible," the report said.
The officers said the design of the proposals would "contribute towards the development of Elephant & Castle as a distinctive urban quarter and consolidate its position within central London". It said that the tall buildings within the proposal would make a mark on the London skyline "underlining the importance of Elephant & Castle within London".
The site lies within the Elephant & Castle Opportunity Area, which the London Plan identifies as having the capacity to provide 4,000 new homes in the period 2011-2031. The Council's Core Strategy also sets out a 4,000-home target for the area as well a target of 5,000 new jobs and 45,000 square metres of additional shopping and leisure space.
The plans for the Heygate regeneration scheme have been in the making for over ten years and implementation of the scheme is expected to take a further ten years.
The application will be decided by the Council's planning committee on 15 January. If approved, final grant of permission is subject to referral to the Mayor of London.
