Changes by developers\u00a0British Land and AustralianSuper will see an increase in height and massing of the residential buildings \u201cin response to major regulatory changes and sector-wide cost and viability challenges.\u201d<\/p>\n
Levels of affordable housing have also chenged to 20% in the next phase and a minimum 9% across the whole site.<\/p>\n
The decision will allow\u00a0the next phase of development to start on site from 2027.<\/p>\n
The 53-acre scheme, which is being delivered in partnership with Southwark Council, will deliver up to 4,184 new homes, 2.5m sq ft of workspace, 1m sq ft of retail, leisure and cultural uses alongside a 3.5-acre public park, a town square and 16 new streets.<\/p>\n
The first phase has seen the provision of workspace at Paper Yard, Dock Shed and Three Deal Porters, 186 new homes at The Founding and 79 affordable homes at 7 Roberts Close.<\/p>\n
It also includes new restaurants and a leisure centre for Southwark Council.<\/p>\n
Gareth Roberts, Head of Canada Water, British Land, said: \u201cApproval of our revised masterplan is vital to accelerating momentum, creating a global destination as part of an amazing new neighbourhood that is uniquely Canada Water.<\/p>\n
![\"-\"](\"https:\/\/www.constructionenquirer.com\/wp-content\/uploads\/Canada-Water-Canada-Dock-scaled.jpg\")
<\/a><\/p>\nDiscovery Pond and Canada Dock Boardwalk<\/p>\n<\/div>\n
\u201cThe viability challenges we have faced are being felt across London, but with the first phase of development having recently completed, this decision will enable us to bring forward future homes, employment opportunities and investment in local infrastructure.\u201d<\/p>\n
St\u00e9phane Jalbert, Head of Real Assets, Europe, AustralianSuper, said: \u201cWe welcome the Deputy Mayor of London\u2019s approval of the revised Canada Water Masterplan. This decision provides clarity for the next phase of the project, unlocking future development opportunities for delivery across the site.\u201d<\/p>\n
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