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30/03/2015

Pickles promises 3,500 more Docklands homes

Words: Laura Edgar

A £200 million government loan will see work start on a new development in Canary Wharf that includes 3,500 homes, says communities secretary Eric Pickles.

The loan funding, the government said, would enable work on a development that has been planned for a decade to begin.

Pickles said: “London’s Docklands have been completely transformed in the last 20 years into an exciting place to live and work.

“The deal will ensure this continues long into the future with the development delivering thousands of homes as well as job opportunities.”

The terms of the agreement will see Canary Wharf Group receive the £200 million loan from the government “to provide the infrastructure needed to unlock the site to the east of the existing Canary Wharf estate, including the relocation and upgrades of utilities for the site."

The loan will also fund a network of parks and public squares, and improved road and pedestrian routes.

Proposals for 3,500 homes, 607 of which are affordable, and 2.8 million square feet of offices, shops and community facilities have already got planning permission and so work will begin “within months”.

Sir George Iacobescu CBE, chairman and chief executive officer of Canary Wharf Group, said: “This crucial contribution by the HCA towards the infrastructure needed to underpin the next phase of Canary Wharf will enable the group to fulfil its ambition of creating one of the most exciting and vibrant places to live and work in London. This is just the type of targeted and practical assistance that our sector needs to help deal with the housing shortage in London.”

The loan funding, the government added, comes from its £1 billion Large Sites Infrastructure Fund.

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