The proposals by developer Cathedral Group include the demolition of a number of vacant factories and warehouses on the site and the construction of 336 new flats as well as 2,637 square metres of commercial space.
The Council's planning officers said in the committee report (94-page / 1.58MB PDF) that no affordable housing would be provided on site but that an off site affordable housing contribution of £4 million would be secured through a Section 106 Agreement.
“We are delighted that Newham has recognised this site’s potential to deliver something quite different for the community in Canning Town, which is closer to true ‘regeneration’ than simply getting rid of some tired old warehouse and factory buildings and replacing them with high-quality flats," said Cathedral Group chief executive Richard Upton in a statement.
Upton said that the scheme's commercial space would be used to "actively encourage the sorts of small businesses and enterprises that will make this site a catalyst for real change".
Cathedral said that it hoped to obtain approval from the Greater London Authority and to finalise the Section 106 Agreement by the end of this year. Construction on the site is expected to start in September 2014.
