LONDON-The mayor here has released a shortlist of three developers for the 50-acre Silvertown Quays project, part of the 300-acre, $35 billion projected redevelopment of the Royal Docks. Mayor Boris Johnson and Newham Mayor Robin Wales are working with the London Development Agency to push hard on the East End docks project, located near the site of the 2012 Olympic Games.
Johnson announced Wednesday that the shortlist includes developers Chelsfield Consortium (made up of Chelsfield Partners LLP, First Base Ltd and Imagination Europe Ltd.), DV4 Ltd./Delancey Real Estate Management Ltd. and St. George Central London Ltd. These companies will begin working with the government next week, and a developer should be chosen by March.
The 300-acre Docks, with 13 miles of river and dock frontage, were developed starting in the mid-1800s and closed in the mid-1980s. There has been some redevelopment on the site, but most of the property is blighted by large chunks of vacant brownfield land, with poor access and contamination. The site has not been able to attract a restaurant or hotel, according to a study done by the mayors, who successfully arranged for an Enterprise Zone for development incentives.
The mayors and the LDA have created a 10-point strategy to redevelop the Docks, and estimate the property has $35 billion worth of potential. A new rail system is being developed at near the site, and the group wants to focus on bringing in technology and green projects.
When he announced the developers, Johnson was at the topping-out ceremony for the $47.8 million new Siemens sustainability center at the Docks property. Known as the Crystal, the center will serve as a conference and research center for sustainable development for the company.
"Located in the heart of the new Royal Docks Enterprise Zone, Silvertown Quays has a very bright future that will help drive the regeneration of east London,” Johnson said at the ceremony. “I look forward to seeing inspiring ideas that rise to the challenge we have set.”
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