The mayor of London has given the go ahead for the redevelopment of Elephant and Castle shopping centre and London College of Communication sites, including a “new-style town” comprised of shops, leisure and a new university college.
The final approved report outlines a comprehensive mix of buildings ranging from two to 35 storeys to provide 979 residential units, including a proposed 35% of affordable build to rent housing.
Proposed schemes, including the enchantments to transport infrastructure still pose some issues to resolve, but have been “strongly supported” by the council.
A City Hall spokesperson said: “This development will include nearly 1,000 new homes for rent – of which 35% will be at social rent or other genuinely affordable levels – as well as community space, leisure facilities, offices, an enhanced college campus, and improvements to the nearby Underground station.
“By working with the developer and the council, City Hall have secured an unprecedented level of support for traders affected, with their rents now capped below market rates for 15 years, and have got the level of rents in the affordable homes down even further.
City Hall have used the planning powers available to their fullest extent to make sure these plans represent a good deal for the local area, and having considered all the evidence available, have decided to approve this application.”