Friday, 9 July 2010

elephant and castle plans - again

Elephant and Castle regeneration plan given go-ahead
A £1.5bn plan to regenerate a traffic-choked area of south London has been approved. Southwark Council has given the go-ahead to transform a 170-acre site of Elephant and Castle, in a project which will take 15 years. The area's red shopping centre will be demolished and the gyratory road system re-routed. It will also mean the demolition of the Heygate Estate to create about 5,300 new homes, shops, and public spaces. The area has good transport links, is close to the City and the West End and is within walking distance of 11 Thames river crossings. But the council feels its development has been stifled by its post-war layout, with its six-lane roundabout, high-rise flats and a shopping centre which has been nominated as London's ugliest building.
- BBC, 7 July

Southwark agrees "momentous" Elephant & Castle Lend Lease regeneration deal
Plans for the regeneration of the Elephant & Castle took a significant step forward on Wednesday night when Southwark Council's cabinet voted to sign a deal with Australian developer Lend Lease. Wednesday's decision brings to a conclusion a three-year process that began when Southwark Council, then run by Liberal Democrats and Conservatives, selected Lend Lease as its preferred partner in July 2007. At that point a deal was expected to be agreed between council and developer by the end of 2007, but a series of setbacks saw the date pushed back repeatedly. In November 2009 heads of terms were agreed between the two parties, but a binding decision was put off until after the local elections held in May. Southwark Council passed into Labour control eight weeks ago and the new regime claims that it has secured additional commitments on affordable housing, the future of the Elephant & Castle Shopping Centre and leisure provision for local residents. "This could well be the most momentous decision we as a cabinet take in this four-year period," said council leader Cllr Peter John as he invited his nine fellow cabinet members to endorse the deal. The deal is centred around the sale by the council of the land currently occupied by the Heygate Estate to Lend Lease on a series of 999-year leases.
- SE1, 8 July