The City of London Corporation’s planning and transportation committee has signed off the local authority’s vision for development for the next 16 years.
The City Plan 2040 is described as “setting the policies and strategic priorities that will guide the growth of the Square Mile”.
A spatial strategy sets out new guidelines “to ensure a sustainable pattern of development is delivered, and to bring forward development in a way that enhances the unique character of the Square Mile”.
The plan identifies “key areas of change” including Fleet Street, the Barbican, Blackfriars, the City Cluster and Liverpool Street, which it said will see “either a greater proportion of net additional floorspace than other parts of the City, or will undergo more significant change to their built form”.
The floorspace lift will be concentrated on the cluster, Fleet Street, Ludgate and Liverpool Street, the plan adds. There will also be a focus on new housing, including student accommodation, as well as retail growth in areas such as Moorgate and Liverpool Street, Leadenhall Market, Cheapside and Fleet Street.
Committee chairman Shravan Joshi said: “The City Plan 2040 will help to shape the built environment in ways that rise to the challenges of our time while making the most of the many strengths of the Square Mile.”
The plan will now be passed on to the policy and resources committee and then the Court of Common Council.
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