Published by Blakes for more
than a quarter of a century
than a quarter of a century
Spitalfields Development Group
REGENERATION TRIUMPHS IN SPITALFIELDS
The regeneration of Spitalfields is an outstanding example of how the private sector can work in partnership with the local authority and local communities to revitalise a neighbourhood.
Extensive consultation:
The Spitalfields Development Group (SDG) - now owned by Hammerson plc - and its joint-venture partner, the Corporation of London, unveiled their master plan for a mixed-use scheme on the 12-acre former fruit and vegetable market site in 1993. This followed several years of extensive consultation with both the local authority and local communities.
Recognising priorities
Investment in the community has been a cornerstone of the redevelopment. Prior to the start of the scheme, SDG agreed a £20mn-benefit package with the London Borough of Tower Hamlets to provide social housing, a leisure centre, two community centres and improved and extended public space.
The creation of the Spitalfields Market Community Trust provided a further outlet for £9mn of funding, which supports a wide range of community projects for young people and the elderly.
In the first phase, SDG relocated the existing fruit and vegetable market and its 1,000 jobs to a new site in Leyton, helping to transform another declining area, and providing new wholesale market facilities and services.
Harnessing funding sources
Working as a key private-sector partner within the City Challenge and SRB-funding regimes, and with local regeneration companies, SDG has helped to create over 3,000 new jobs and over 250 new businesses, refurbished over 1,600 social houses and built around 500 new affordable homes.
Drawing on private-sector experience
Drawing on the benefit of Hammerson's extensive development experience across Europe and in the UK, notably the Bull Ring in Birmingham, the redevelopment of the Spitalfields' site is now approaching completion. It is London's largest regeneration scheme and has breathed new life into this corner of the capital.
A quality professional team
Following an extensive environmental impact assessment to ensure that Spitalfields has a bright and prosperous long-term future, the final phase of the project, Bishops Square, began in 2003. Designed by leading architects Foster and Partners, the high- quality offices, shops and public spaces demonstrate best practice in both design and sustainable development. SDG is also building on the success of the popular stall market it created in the retained Victorian market buildings on-site, by providing an eclectic mix of shops that will complement the existing facilities and make Spitalfields an even more attractive destination for shoppers.
Ongoing commitment
SDG's ongoing and active management of the site, and its commitment to safety and security for everyone who lives, works or visits Spitalfields, has helped transform the area into a vibrant, safe and inclusive environment. The area's revival has benefited from the developer's substantial environmental and public-realm improvements.
A sustainable future
The story of the regeneration of Spitalfields has been long and demanding, but very successful in attracting new businesses and a rolling programme of inward investment to boost the local economy. However, without the support of the local authority and local people, this would not have been achieved.
Extensive consultation:
The Spitalfields Development Group (SDG) - now owned by Hammerson plc - and its joint-venture partner, the Corporation of London, unveiled their master plan for a mixed-use scheme on the 12-acre former fruit and vegetable market site in 1993. This followed several years of extensive consultation with both the local authority and local communities.
Recognising priorities
Investment in the community has been a cornerstone of the redevelopment. Prior to the start of the scheme, SDG agreed a £20mn-benefit package with the London Borough of Tower Hamlets to provide social housing, a leisure centre, two community centres and improved and extended public space.
The creation of the Spitalfields Market Community Trust provided a further outlet for £9mn of funding, which supports a wide range of community projects for young people and the elderly.
In the first phase, SDG relocated the existing fruit and vegetable market and its 1,000 jobs to a new site in Leyton, helping to transform another declining area, and providing new wholesale market facilities and services.
Harnessing funding sources
Working as a key private-sector partner within the City Challenge and SRB-funding regimes, and with local regeneration companies, SDG has helped to create over 3,000 new jobs and over 250 new businesses, refurbished over 1,600 social houses and built around 500 new affordable homes.
Drawing on private-sector experience
Drawing on the benefit of Hammerson's extensive development experience across Europe and in the UK, notably the Bull Ring in Birmingham, the redevelopment of the Spitalfields' site is now approaching completion. It is London's largest regeneration scheme and has breathed new life into this corner of the capital.
A quality professional team
Following an extensive environmental impact assessment to ensure that Spitalfields has a bright and prosperous long-term future, the final phase of the project, Bishops Square, began in 2003. Designed by leading architects Foster and Partners, the high- quality offices, shops and public spaces demonstrate best practice in both design and sustainable development. SDG is also building on the success of the popular stall market it created in the retained Victorian market buildings on-site, by providing an eclectic mix of shops that will complement the existing facilities and make Spitalfields an even more attractive destination for shoppers.
Ongoing commitment
SDG's ongoing and active management of the site, and its commitment to safety and security for everyone who lives, works or visits Spitalfields, has helped transform the area into a vibrant, safe and inclusive environment. The area's revival has benefited from the developer's substantial environmental and public-realm improvements.
A sustainable future
The story of the regeneration of Spitalfields has been long and demanding, but very successful in attracting new businesses and a rolling programme of inward investment to boost the local economy. However, without the support of the local authority and local people, this would not have been achieved.
Michael Bear
Chief Executive
Spitalfields Development Group
Copyright © 2005 Blake.