London Mayor Boris Johnson and PM David Cameron have announced a £50 million package to kick start the Old Street Roundabout regeneration project
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The cash injection is a boon for Architecture 00:/ which has drawn up designs for Europe’s largest civic centre on the site which is being labelled as Silicon Roundabout.
Called the Open Institute, the building will be at the hub of what the government hopes will become a ‘tech city’ in the heart of east London’s trendy Old Street, Hoxton and Shoreditch areas.
The proposed scheme, which will sit directly over Old Street tube station, will be home to new businesses and will include classrooms and workshops. It will be wrapped in an ‘electronic canvas’ allowing adverts to flash across the office block
The development is part of a drive by the government to create a ‘Tech City’. Several large international firms have also announced new investments in the area, including Microsoft, IBM and KPMG.
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