The Greater London Authority has given the go-ahead for Berkeley's City Forum regeneration at 250 City Road in Islington.
This includes up to 995 homes, of which over 30% will be affordable, alongside 100,000 square feet of office space, 43,000 square feet for retail use, a hotel and a relocated data centre.
The decision follows two years of comprehensive public consultation and collaboration with the local authority.
Berkeley's plans will deliver much-needed regeneration for the area. The site's existing ageing office blocks are set to be demolished, while new homes and landscaping will breathe fresh life into this part of City Road.
Berkeley's Divisional Managing Director, Justin Tibaldi, says work will begin right away:
"We are delighted to have been given planning permission by the Mayor and will aim to get on site this summer. We want to bring real benefits to the area and to London as a whole, not least through a major investment in high quality affordable housing."
The Mayor of London, Boris Johnson said: “London is enjoying an unprecedented population boom and by 2030 will become the first city in Europe to be home to ten million people. Building new homes and creating more jobs is absolutely crucial so that we can ensure this growth is sustainable.
Berkeley will now continue their dialogue with the local community as the regeneration begins in earnest.
Source: Berkeley www.berkeleygroup.co.uk April 2, 2014