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Highly developed urban thinking
Billions of pounds are being invested into intelligently developed and thoughtfully designed new projects in Stratford. They’re being financed by the private and public sectors, foundations, charities and partnership funders, who are dedicated to expanding, renewing and refreshing Stratford’s transport infrastructure, public realm, housing stock, retail opportunities and sports and educational and cultural facilities.
The latest investment figures highlight that almost £9billion of private investment is being pumped in to the area, generating thousands of jobs and new homes. The London Olympic and Paralympic Games were won in 2005 and have been a catalyst for this investment.
Stratford has seen an unprecedented transformation and the investment will see more than 42,000 jobs and 8,000 homes created, delivering a massive boost to the UK economy and providing much needed homes for London’s burgeoning population.
The latest Centre for Economics and Business Research report in June 2013 shows a massive shift in perception of Stratford as a desirable area to live in and invest. The new postcode area E20 is now seen by Londoners as one of the top places to live in the capital.
The area has world-class transport connections, with Stratford Station now the sixth busiest station in London with more than 100million users annually; and Crossrail will arrive from 2019 providing even better connectivity.
High Speed 1 rail services already stop at Stratford International, with Newham Council lobbying hard with its public and private sector partners for international connections and a link to High Speed 2.
Westfield was one of the first businesses to see the potential of the area and its development, Westfield Stratford City is Europe’s largest urban shopping centre. It has created 10,000 jobs and is now valued at around £2billion. In its first 12 months it attracted 47 million visitors.
Westfield is investing hundreds of millions more in its Angel Lane development, comprising a Unite student accommodation, new hotel, a major apartment tower and offices. On Cherry Park, Stratford City it will also invest in further development, delivering hundreds of jobs and 1,500 homes. In 2014 Westfield will bring forward plans to build Europe's largest indoor winter sports centre.
Other investors in the area include Manhattan Loft Corporation who are developing Manhattan Loft Gardens, a 42 story double-cantilevered tower with expansive living spaces, three sky gardens and a design hotel. The company is set to spend £300million on the unique structure which will provide more than 200 homes and generate 100 jobs, with construction anticipated to commence in early 2014.
Work is underway t on two major new mixed use developments in Stratford. Landprop's £700m commercial and residential district 'Strand East' will deliver 1,200 homes and 1,000 jobs and 'The International Quarter', by joint development partners Lend Lease and LCR, is a £2billion vibrant new commercial district for London. This new business district will bring up to 25,000 jobs to Stratford.
Lend Lease and LCR will begin construction on 320 new homes 'Glasshouse Gardens' at The International Quarter in spring 2014 and will break ground on a new 500 bedroom dual-brand hotel development later this year.
Taken together these developments are all focused on one single, simple objective: turning Stratford into Europe’s best-connected and most exciting and sophisticated urban area.
You can also download a handy guide outlining the scale of the opportunity here in Newham, with the youngest and most diverse population in the country.
The London Borough of Newham has recently finalised the 'Stratford Metropolitan Masterplan', setting out a long term vision for Stratford to become London's third economic centre.
See here for an overview of the masterplan and links to all the relevant documents, research and other planning information.