Five London Urban Regeneration Projects in 2011

Aug 4th 2011

London is the centre of the UK economy, and yet it is one of the most divided area in the country when it comes to incomes and standards of living. Little wonder then that the city is undergoing a number of urban regeneration projects, aimed at creating new communities, renewing areas which have been neglected, and attracting investment to the region.

The London 2012 Summer Olympics are partly responsible for the increase in the number and scale of these projects in recent years, with a focus on ensuring that the Games have a positive impact on the areas in which the main stadiums and accommodation are being constructed.

Read on and take a look at our list of the five biggest urban regeneration projects which are currently underway in London:

Westfield Stratford City

An Artist’s Impression of Westfield Stratford City and the Olympic Park.
Photo by EG Focus on Flickr.

On the 13th September, the UK latest mega mall will open in Stratford. This gigantic construction (1.9 million sq ft in total), called Westfield Stratford City, will house 300 retail spaces and 50 restaurants. In total, it has been estimated that the project will create 10,000 permanent jobs. Provided many of these jobs go to locals, as planned, this will be a fantastic boost to an area that has faced high unemployment since many of the industrial works in the area closed. A number of companies, including Waitrose and Marks and Spencer, are already planning to open stores in the shopping centre. The project’s website claims that 70% of all visitors to the Summer Olympics will arrive via Westfield Stratford City.

This video from Reuters takes a look at the development, including both the benefits it is providing to the area and the some of the negative impacts that urban regeneration is having on local residents:

New Family Homes and Olympic Park

Another legacy of the Olympics construction projects is the creation of five new neighbourhoods around the Olympic Park, including one by Stratford City. Each of these is designed to host a new community in the heart of London. These areas will not only provide up to 11,000 new family homes, but will also include important community services, including schools and nurseries, community and faith centres, health and sporting facilities, shops, office space and industrial works.

One neighbourhood, the largest, will stretch between Newham and Stratford City. A second will be next to the Lea Navigation Canal, in the Old Ford area, and will include new bridges to Fish Island. Another will be in Newham itself, running along the Bow Back River. The fourth is located near Hackney Wick, and will feature a marina with residential moorings. The final neighbourhood will be built to the north-east of the Olympic Village. Even in London, urban regeneration projects don’t come much bigger.

On top of this, the Olympic Park will be reopened in 2013, as a public space for both residents and visitors. This huge area will feature parks, refurbished waterways and restored wetlands. It will be renamed to the Queen Elizabeth Olympic Park, in honour of the Queen’s Diamond Jubilee, which will be celebrated in June 2012.

East London Tech City

Following the success of a number of small, startup technology businesses in East London, particularly around Shoreditch, Prime Minister David Cameron made an announcement late last year that this area would receive support to help turn it into ‘Tech City’. The plan is to create a UK equivalent of Silicon Valley, the famous hub of tech industry innovation in the US. It is hoped that support for this area will help to drive sustainable, innovative growth in the UK, strengthening the economy through job creation and diversification into high-skilled and profitable industries.

Some of the measures being taken to attract investment in the area include a new Entrepreneur Visa system to help innovators establish companies in the UK, a £1m fund to support local startups (the government will match funds up to £100,000 for new businesses in Tech City), and a review of Intellectual Property laws. A number of leaders in the tech industry, including Google, Facebook, Vodafone and Intel, have already said that they will invest in the area over the long term.

Heron Tower

Heron Tower is now open for business. Photo by Harshil Shah on Flickr.

Since our last post about urban regeneration projects, the construction of Heron Tower has been completed, as of 29^th March 2011. Over the last few months the building has opened for business. The first company to secure office space at the location, law firm McDermott, Will & Emery, have already begun to use this location as their London address.

Purchasing office space in the city can be expensive, however, especially for SMEs. A good alternative is for your company to purchase virtual offices in London, or hire some serviced office space. Heron Tower is very close to our offices at 288 Bishopsgate, where these services are available, along with a range of other useful facilities such as video conferencing equipment.

Transport Improvements

To cope with the vastly increased numbers of people travelling around the city next summer, many transport links will be upgraded as part of the London urban regeneration project. These will include a 45% increase in the capacity of the Jubilee line, improvements to the DLR (Docklands Light Railway) and London East lines, and a new Channel Tunnel Shuttle link from Stratford to Kings Cross.

Do you think these urban regeneration projects will make a difference to London communities? Let us know in the comments section below.

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