Go ahead for £1.5bn Elephant and Castle regeneration
Ambitious plans for the transformation of Elephant and Castle have taken a huge leap forward after Southwark Council sewed up an historic deal with Olympic Village developer Lend Lease
On Wednesday (7 July) the South London authority accepted terms with the Australian-based giants on a regeneration agreement for the £1.5 billion improvement of the Elephant and Castle. The outline scheme has been masterplanned by Make.
The terms of the long-awaited agreement, conceived over a decade ago, also paves the way for a raft of other architects to become involved in the scheme which will be split into six phases, starting with the demolition of the Rodney Road flats in October this year.
The aim of the ‘highly complex legal document’ is to form a long-term relationship between the council and Lend Lease. Councillor Peter John, Leader of Southwark Council, stated: ‘This agreement will mean the centre of this great world city will be pulled further south in to Southwark, with the economic and social benefits that this will bring.’
The exact terms of the agreement have not been released, however, plans will include the demolition of the 1970s Heygate Estate (planned to be completed by 2015), and the installation of a minimum of 25 per cent affordable accomodation, as well as improved leisure facilities. The project is also working in conjunction with the Clinton Climate Initiative programme.
July 2010 – Signing of the regeneration agreement
October 2010 – Commencement of demolition of Rodney Road
Spring 2011 – Demolition of Rodney Road completed.
End 2011 - Detailed planning consent met for Rodney Road
End 2013 - Outline planning consent received for the Heygate
2015 – Completion of demolition of the Heygate Estate