Dome developer reveals new district

Details of the dramatic plans for the re-development of the Dome and the Greenwich peninsula were unveiled today.

They promise an entirely new district in London, with its own homes, a school, of fices, entertainment venues and areas of parkland.

Developer Meridian Delta says it will create a new square with "the grandeur of Trafalgar Square, the mix of the life and atmosphere in Covent Garden and the excitement and energy of an evening at Leicester Square".

The controversial plans to turn the Dome into a major entertainment venue were also presented to the London Assembly's planning committee today. However, it is the redevelopment of key areas of the peninsula that drew most attention today.

Four distinct residential areas would be created comprising 7,000 homes. Bert Martin from Land Lease Europe, part of the Meridian consortium, said: "Our plans will be the most significant residential development in the capital in the next 15 years."

One community, East Riverside, would have 500 homes, mainly in apartments. It lies closest to the proposed Millennium Square and is targeted at "the active urban dweller".

Another community, Bugsby's Reach, would have 2,000 homes and given its close proximity to parkland, walkways and cycleways will be targeted at families. A third, Parkside, will have 1,700 homes. The fourth new community, Meridian Gardens, will lie to the west and provide 2,500 homes.

The main commercial district would be Dome Central, with 3.5 million square feet of offices. The developer told the Assembly it hopes this area will be the focus for 20,000 new jobs. Some of the buildings may be up to 15 storeys high but the developer stresses it is not trying to rival nearby Canary Wharf.

Mr Martin said: "The opportunity to regenerate the peninsula is one of the largest ever in London."

Under the deal struck with the Government, the land was given to Meridian in exchange for a share of future profits.

Ministers hope the deal could result in more than £500 million coming back to the public purse over the next 25 years.