Plans are being drawn up to build a 27-storey skyscraper in the centre of Walthamstow that would be the tallest building in the borough.
Developer Capital & Regional has been in talks with Waltham Forest Council about extending The Mall in Walthamstow, with around 500 homes set to be built alongside an extension to the shopping centre.
The “transformational” plans, if approved, would see more than £120million of private investment in the town centre and, according to Capital & Regional, create “hundreds of new jobs”.
The large-scale extension to The Mall in Walthamstow High Street, built in the late 1980s, would provide space for several new big-name retailers. The new shopping area created would be larger than a football pitch, at about 86,000 square foot.
Restaurants and other businesses that would “create a lively nighttime scene”, as well as a revamp of Walthamstow town square gardens, are also part of the proposal by Capital & Regional.
All these plans are due to be displayed at The Mall on Friday and Saturday 8/9th April, between 10am and 6pm, and again on Saturday 16th April. Local people will be invited to give their feedback. No planning application has yet been submitted.
Mark Bourgeois, executive director for Capital & Regional, said: “Walthamstow has a great deal of potential and we believe our proposals will tap into this and build on the progressive work that has already taken place in the town centre.
“We have worked hard to ensure our proposals are aligned with a wider vision for the borough and we are delighted that we can now offer members of the public the chance to give their feedback.
“We hope that people are excited by the potential development and will support the chance to enhance the community offer in Walthamstow.”
In a further statement to the Echo, Capital & Regional confirmed its plans included buildings that would “range in height potentially between 12 and 27 storeys above the retail centre”.
If a 27-storey tower is built, it would be the tallest building in Waltham Forest. It would even dwarf the height of the Travelodge hotel in Walthamstow, opened two years ago, which is 14 storeys tall.
Capital & Regional operates The Mall on a lease from Waltham Forest Council. The authority’s current rental income from the shopping centre is around £445,000 per year, and although this is likely to decline during the construction period, it could increase significantly on completion.
In a report published earlier this year, Waltham Forest Council’s strategic property projects manager John Carroll said: “Investment in The Mall will ensure that Walthamstow attracts a greater range of high-quality retailers that the local community wishes to see in the town centre and will increase the footfall for existing retailers and businesses.
“The development of additional housing above the centre, especially in this very accessible
location, will assist the borough in meeting its requirement for additional housing.”
As well as the public exhibitions this weekend, Capital & Regional is hosting workshops at Walthamstow Library, this Saturday and next, on a first-come-first-served basis.
To register for the workshops and find out more about the plans: