The English Cities Fund has proposed a £180 million development scheme to rejuvenate Canning Town.
The mixed-use development will include a 21-storey building, around 650 homes and hopes to breathe new life into the site’s historic market, Property Week has reported.
"Our ambition is to change Canning Town’s identity with vivid and exciting architecture, and create a modern, vibrant piece of city," said project designers CZWG.
Andrew Davis, partner and architect for the build told the publication: "It will provide Canning Town with a new urban destination and bring the historic market back to life. It will attract new residents, and re-energise the streets."
Planning permission was made to the London Thames Gateway Development Corporation (LTGDC) by English Partnerships, and its partners Muse Developments and Legal & General.
The Rathbone Market site will include commercial property, 49,000 sq feet of shops and new council facilities, a library and a local service centre.
LTGDC recently presented the Mayor of Newham a cheque for £2.4 million that represented the corporation’s investment in Canning Town schools.