South London Regeneration Scheme Approved

11 July 2010 (Last Updated July 11th, 2010 18:30)

The proposed scheme for the Elephant and Castle regeneration in south London has been approved by local authorities. The regeneration scheme, worth £1.5bn ($2.2bn), will include the development of 5,300 homes, and retail and public spaces over a period of 15 years. Developer Le

The proposed scheme for the Elephant and Castle regeneration in south London has been approved by local authorities.

The regeneration scheme, worth £1.5bn ($2.2bn), will include the development of 5,300 homes, and retail and public spaces over a period of 15 years.

Developer Lend Lease will revamp the 170-acre Elephant and Castle site, aiming to reduce congestion in the area.

The Southwark revamp is among 16 worldwide projects that will release less carbon dioxide than they use.

Work on the scheme will begin in October this year, according to BBC News.