Riverside South boosts Lewisham's future

Riverside South will create demand for homes in Lewisham

One of the world's leading banks, JP Morgan, has submitted a revised planning application for its new Canary Wharf HQ, signalling that the project is almost certain to proceed beyond the foundation construction which has been underway for over a year.

Riverside South is Europe's largest office development, providing 3m square feet to house JP Morgan's London employees. It means thousands more jobs will move to Canary Wharf and should trigger a rash of other developments in the area, including hotel and residential buildings. In short, it means the next wave of the expansion of Canary Wharf will proceed. Although work has been underway for some time, the developer's stated plan was to complete the foundations before confirming that it would proceed with the superstructure.

Many of Lewisham's most important development projects are predicated on the ongoing development of the Wharf, creating growing demand for housing along the route of the DLR. Brockley's organic growth is also being fuelled by the expansion of the Wharf and London Bridge as key employment hubs, dragging the centre of London south and east. The East London Line will dramtically cut commuting times for Canary Wharf workers, from early next year.

At London Bridge, the superstructure for the Shard has recently appeared, meaning that it remains on track to open in 2012, while demolition work to make room for its baby sister "the Gem" [above] has also begun.