London Mayor OKs Developer's £1.5B Riverside Project Plans

Law360, New York (June 11, 2013, 2:13 PM EDT) -- London Mayor Boris Johnson on Monday greenlighted £1.5 billion ($2.3 billion) plans by developer Chelsfield Properties and regeneration specialist First Base to transform a 50-acre swath of the city’s docklands area into a mixed-use site with 1,500 homes, space for retail and other amenities.

The project covers the Silvertown Quays, a former warehousing space that sits alongside the River Thames in East London and is part of a sprawling £22 billion redevelopment initiative that runs along the water. A reinvigorated commercial and residential complex on-site is...
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