Developer Almacantar has unveiled its Rafael Viñoly Architects-designed scheme for the £450 million redevelopment of the Marble Arch Tower site
Under the proposals the existing 1960s 24-storey tower - which the developer paid £80 million for in 2011 - and the Odeon cinema at the junction of Edgware Road and Oxford Street will be flattened to make way for two new buildings of 17 storeys and 7 storeys.
With retail units at ground level the limestone-clad buildings will feature a mix of retail, office and residential units.
The taller building will be some 10m shorter than the block it replaces and will feature a cylindrical tower and terracing. It will have 52 private apartments while its neighbour will be dedicated office and retail space with the developer hoping to sign up a major anchor tenant to the prominent site.
The Odeon cinema will be reinstated but sunk in the scheme’s three-floor deep basement. Between the two buildings a new space will be dedicated to public art from renowned and emerging artists and provide a new walkway to Hyde Park.
As part of the section 106 element of the deal Terry Farrell’s office has also submitted a separate application for housing and retail units a mile up Edgware Road, just yards from his office.
The £70 million scheme will comprise 76 homes of which 47 will be affordable with the remainder available for private sale. The development will include townhouses and apartments and a new petrol station; the first in London for 10 years.
Construction of the main scheme is expected to start in 2015 with Farrell’s element beginning a year later. Both projects are due to complete in 2018.