Tower Hamlets London Borough Council has granted planning permission for Canary Wharf Group to build a multi-billion pound mixed-use development at Wood Wharf on the Isle of Dogs, London.
Designed to expand Canary Wharf district, the project will see the construction of 30 new buildings comprising 4.9 million ft² of homes, offices and shops.
The towers will have 2.6 million ft² of space for 3,100 homes, which range from park-side townhouses to high-rise buildings, with a mix of private, intermediate and social housing.
The centrepiece among the buildings will be a 211m, 57-storey cylindrical residential tower, which is designed by Herzog & de Meuron and will be the tallest in the neighbourhood.
Around 1.9 million ft² of space from the project will be used to develop offices for variety of industries, with a special focus on creative media, technology and telecommunications sectors.
The new Canary Wharf district will also gain a new 420-place primary school, a NHS medical centre, a community centre, a hotel and more than 100 new high street shops, restaurants and cafés.
In addition, the neighbourhood will feature parks and public squares with approximately nine acres of interconnected public spaces, including 1km-long dock-edge walkways.
The project is expected to create more than 17,000 new jobs during the development stage, among which 3,500 will be taken by local residents.
Canary Wharf Group CEO and chairman Sir George Iacobescu said: "This major eastern development of Canary Wharf will reinforce the district as one of London's most vibrant and dynamic mixed-use commercial and residential districts.
"It will combine new high-quality offices aimed at the fast emerging technology, media and telecommunications (TMT) sector; a wide variety of high street shops and restaurants, and a range of new housing opportunities designed around generous newly created public spaces.
"We expect to be on site in the fourth quarter of 2014, with the first buildings to be occupied as early as the end of 2018."
Image: Ariel view of Wood Wharf in central London. Photo: courtesy of Canary Wharf Group PLC.