by Natalie Vincent Fri 23 March 2018, 12:18 pm
Mayor of London Sadiq Khan has given the go-ahead for Waltham Forest Council to regenerate the borough's biggest shopping centre.
The plans to redevelop Walthamstow Mall were approved by Waltham Forest Council's planning committee in December.
With endorsement from the Greater London Authority (GLA) on 20 March, it will now attract £200 million of private investment, and provide 8,000sq m of new retail space, 350 retail jobs, 500 homes, a children’s play area and a re-landscaped town square.
Approval was granted following negotiations between the GLA, the council and developer Capital and Regional to increase the level of affordable housing from 20% to
An additional £7.3 million contribution from the development has been earmarked to build homes for affordable rent in Walthamstow, with priority given to residents.
As part of the agreement to redevelop the mall, Transport for London (TfL) will spend £15 million to improve Walthamstow station by creating a new entrance that will improve accessibility and reduce overcrowding.
Council leader Clare Coghill said: "The mayor’s decision to approve the redevelopment of the mall in Walthamstow will radically improve the town centre, replacing the existing town square and shopping centre, which is tired, underused and not good enough for our residents.
"A new and expanded mall will give a significant boost to the local economy, giving our residents the opportunity to shop in the borough rather than going further afield, which has a detrimental effect on our local economy."
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