Our proposal is to create a thriving town centre - keeping the best of what’s here while providing an improved retail offering; more homes, including more social and affordable; more services and amenities and a greater focus on our heritage.
In July 2018, Tower Hamlets unanimously approved our regeneration plans for Chrisp Street Market. With Telford Homes, we’re building 649 new homes, new market and retail space. This 6 year scheme is expected to start on site by early 2021 and to be completed by the end of 2026.
Features of the scheme include:
- 649 new homes: 163 social rent, 37 shared ownership and 443 private sale.
- 35% increase in affordable homes, from 124 to 200.
- The sale of the private homes will help fund the regeneration works.
- New cinema and restaurants
- Two pocket parks
- New Sure Start centre
- New large community hub
- Extended Idea Store
- Restored and accessible Festival of Britain clock tower
- Refurbishing current shops, building new and providing a larger market with new stalls and a new market canopy.
- Supporting current traders to remain in the market, with no rent increases for shops during the refurbishment works and for 12 months afterwards. There will then be stepped increases based on affordability – with concessions available for up to a further 5 years.
- Encouraging a mix of independent retailers, a new supermarket and some high street names.
Compulsory Purchase Order
The London Borough of Tower Hamlets Council has made a Compulsory Purchase Order (CPO), which will now be submitted to the Secretary of State for their consideration. For the full documentation, please view the council website here.