Plans Unveiled for $1B Landmark in London
- Feb 03, 2017
London—Dr. Henry Cheng Kar-Shun’s investment vehicle Knight Dragon has unveiled plans for a $1 billion project that will transform London’s Greenwich Peninsula. The development will be designed by international architect and engineer Santiago Calatrava. Knight Dragon first began its investment in the project in 2012.
“My ambition is for Greenwich Peninsula to be a unique cultural destination for Londoners and visitors to this global city. Calatrava’s contribution will help ensure that the U.K.’s biggest regeneration project fulfills its potential to become just that,” Sammy Lee, director of Knight Dragon, said in a prepared statement.
The new project will modernize Greenwich Peninsula, London’s single regeneration project and emerging cultural district. The scheme, known as Peninsula Place, will total 1.4 million square feet and include a new bus station, theater, cinema, performance venues, bars, shops and a well-being hub. Above the tube, three towers of workspace will rise, as well as apartments and hotels, all connected to the Thames by a new land bridge.
Peninsula Place will be part of the Peninsula Central neighborhood and will include Peninsula Place by Calatrava and two buildings designed by master planners Allies & Morrison, who also designed Greenwich Peninsula. Upon completion, the project will encompass a total of 800 new apartments, 200 of which will be affordable, adding to the hundreds of homes already built by Knight Dragon in the area.
“This shows that London remains open to investment, trade and the very best talent from around the globe,” London’s Mayor Sadiq Khan said in a prepared statement. “This new landmark for London and the growth of this area of London will create a new cultural district for Londoners and visitors from around the world. I am also pleased to welcome Knight Dragon’s continued investment in Greenwich Peninsula, providing much-needed infrastructure, shops, offices and new genuinely affordable homes for Londoners.”
The development project is part of a $8.4 billion transformation of the Peninsula that upon completion will provide 15,720 new homes in seven new neighborhoods.
Renderings courtesy of Knight Dragon