The London Borough of Greenwich has given its consent for the 20-year regeneration of 190 acres of land, providing 10,000 new homes, nearly 3.7 million sf of commercial space, 355,000 sf of retail space, new schools, a new hotel, transport improvements, public open space and parkland. The development will also include a 20,000-seat entertainment and sports arena, with a further 665,000 sf of entertainment and leisure space within the existing Dome structure. The project will create a community of 25,000 residents and 24,000 new jobs.

Before work can begin, Lend Lease and Quintain have to finalise the commercial arrangements with landowner English Partnerships, but the developers anticipate starting on the site before the end of 2004. MDL's partner, Anschutz Entertainment Group, plans to begin constructing its arena within the Dome in early 2005.

Quintain's property director Nick Shattock says, "The creation of a new town on the Greenwich Peninsula is a great responsibility and the receipt of this permission is testament to the efforts of everyone involved. We look forward to completing the final agreements with English Partnerships over the next few months and would hope to be on site shortly thereafter."