Property developers are to give the Crossrail project £100 million, Transport Briefing has reported.
The funding was announced after Tower Hamlets council agreed to grant planning permission for a new development in the London Docklands.
The money will help build the Isle of Dogs Crossrail station. A further £9 million will be allocated for improvements to the Docklands Light Railway (DLR) and £5 million to help upgrade the area’s bus network.
“The redevelopment of Wood Wharf will create one of the world’s finest urban waterfront quarters,” claimed its planning director Jason Larkin.
He said the development will create jobs, homes and investment in community infrastructure, and “make this one of the largest and most important regeneration projects in London”.
London Docklands is home to some of the City’s newest commercial property, however, because of the changing economic climate, this new scheme may not be realised for some time.
When completed it will include six tower blocks and be served by the Crossrail station, due to open in 2014.Share: