Bouygues Development and the London Borough of Newham have signed a principal development agreement (PDA) for the £600m Canning Town Centre scheme in the UK.
Developed by Bouygues Development and its consortium partner One Housing Group, the scheme forms part of the London Borough of Newham’s £3.7bn Canning Town and Custom House regeneration programme.
Newham Council executive director for regeneration and inward investment Clive Dutton said: "The Bouygues Development scheme will spur on not only the wider Canning Town and Custom House regeneration programme, it will also give momentum to the wealth of opportunities throughout Newham’s arc of opportunity running from The Royals through to Stratford."
"It is further evidence that East London and Newham in particular are at the heart of London’s future economic growth," Dutton said.
The plans for the regeneration have been developed by Aecom and Haworth Tompkins Architects while Bouygues UK is the main contractor.
The 6ha site will reconnect the areas north and south of the A13 flyover, Canning Town Corner with Barking Road and Rathbone Market, to create a new town centre.
The first phase of the regeneration will include 179 private and affordable homes in addition to a 7,000 square metres supermarket. .
The entire scheme will include approximately 1,100 mixed tenure housing units, over 30,000 square metres of leisure and retail space and more than 3,000 square metres of space for community facilities, new pedestrian links and a cycling path, as well as 1,100 parking spaces.
The development also incorporates a community centre, primary health care and nurseries, a hotel with up to 200 rooms and conference facilities as well as access roads. An energy centre, utilities infrastructure and drainage works will underpin the development.
Bouygues expects to begin work on the project during the last quarter of 2012 and the entire scheme is scheduled to be completed by 2023.
Image: The Canning Town Centre scheme will include 1,100 mixed tenure housing units. Photo: Bouygues UK.