Over 150 acres of former industrial land and gasworks that surround the O2 are due to become ‘Greenwich Peninsula‘, the biggest regeneration project undertaken by a single developer in the UK.
Hong Kong-based developer Knight Dragon has gained consent to build 15,720 homes, along with a new design district, film studio, two schools, health services, shops and offices. At least 3,930 of the new dwellings will be classified as affordable.
Knight Dragon has partnered with Santiago Calatrava, one of the world’s most prominent architects, to crown the development with a £1Bn Landmark which will be known as ‘Peninsula Place’. He said he had been inspired by “London’s rich architectural heritage and the very special geography of the peninsula”.
Sammy Lee, vice chairman of Knight Dragon, said: “My ambition is for Greenwich Peninsula to be a unique cultural destination for Londoners and visitors to this global city.”
“Calatrava’s contribution will help ensure that the UK’s biggest regeneration project fulfills its potential to become just that”
Like all newly announced London landmarks, Peninsula Place doesn’t come without controversy, Santiago Calatrava has a reputation for complex designs that run wildly over budget.
London Mayor Sadiq Khan said, “this new landmark for London and the growth of this area of London will create a new cultural district for Londoners and visitors from around the world.”
Of the planned 15,750 homes, 1,172 have been built to date, a number that will rise to 2,572 by the end of 2017. The entire development is expected to be completed in 2032.
With convenient access to Canary Wharf at the heart of the Jubilee Line, North Greenwich Station will be renamed ‘Greenwich Peninsula Station’. The area is due to receive a huge boost when the Elizabeth Line (Crossrail) opens in 2019, giving residents direct access to Liverpool Street, Paddington and Bond Street stations.
DMZ view’s Greenwich Peninsula as an incredibly exciting development. When the site of the millennium dome (now the O2 arena) was chosen in 1996, it was expected that the project would stimulate further Greenwich development. It may be more than 20 years since that decision was announced, but developer Knight Dragon has finally accepted the challenge and we predict hockey stick levels of growth in the new ‘Greenwich Peninsula’.