Have you wondered through Canada Water SE16 recently? Construction of the Canada Water Masterplan – a £1B project with the aim of providing SE16 with new homes and businesses for 100 years to come – has begun! The masterplan is recognized as the largest regeneration project in London, expecting to deliver 1,600 units of housing in SE16 London’s Canada Water area over the next six years. This is an ambitious project that will take place in an area which has been designated as an opportunity zone.

Canada Water Masterplan by BritishLand

The Canada Water Masterplan in SE16  is being developed by The Mayor of London and the Greater London Authority, Transport for London, Southwark Council, Lambeth Council and British Land. The 53-acre project includes a £100M investment in transport infrastructure with new bus routes linking Canada Water to two tube stations as well as extra cycle lanes on nearby roads. Further, the project is building the newest high street (the first in 100 years) as well as creating 16 new streets.

Canada Water Masterplan – Picture Credit: British Land

The developers wanted to take care in developing a mixed-use neighbourhood that balanced work and life while supporting low carbon living. With that in mind, the plan calls for improvements to the dock, a commitment to planting trees and having designated open space as well as three phases of building new residential units (35% of which will be designated as affordable). 260 homes have been built so far with another 1500 planned by 2025. These units range from affordable housing schemes to luxury apartments. And to support the well-being of Canada Water residents, the plan includes twelve acres of new open space, a new leisure center and a 3.5-acre park.

It is expected that the designated workspace footprint will support 20,000 jobs while another one million square feet will support local retail, entertainment and community space. The masterplan includes expansion and improvement of the primary school, building a new health facility and a police hub. The idea is to not only support the local businesses but attract new investment and businesses to the area. It is estimated that the new development will bring in an additional £100m in spending per year.

Canada Water Masterplan – Picture Credit: British Land

The long-term vision behind the Canada Water Masterplan is not only to provide more sustainable living spaces for people who currently live in an area desperately lacking them, but also make some much-needed changes across SE16 London as a whole – making it better connected from east to west through transport links and improved infrastructure.

It will be interesting to watch the Canada Water Masterplan take shape over the next few years. If you are looking for more information about the new homes in the Canada Water area, reach out to us, Alex and Mattteo at https://www.alex-matteo.com/about-us/. We are your local experts! And if you want more specific information about the masterplan, you can go to their website at https://www.canadawatermasterplan.com.

Canada Water Masterplan – Picture Credit: British Land