LONDON-The University College London has revealed talks with the Newham Borough for the development of a new campus, which would include teaching and research space, as well as community, residential and commercial uses. The expansion is part of a $785 million improvement plan recently announced by the college.
The expansion would be located in the Greater Carpenters Neighborhood in Stratford, east of Olympic Park, which is being developed in preparation for the 2012 Olympic Games. The 20-acre site now includes more than 600 residents in various multifamily buildings, and the residents will be offered units in the new project.
The college and the Newham Council agreed to a six-month negotiation on building the new campus. If either side walks away, the project won’t happen, a UCL spokeswoman tells GlobeSt.com. If the parties agree, the property could be built by 2017, she says.
Malcolm Grant, president and provost, said in a statement that the current central London location offers very limited capacity for the longer term. “We are constrained in our central London location in meeting the demand for suitable space to support the development of world-class teaching and research,” he said.
The development would create a wealth of benefits for the local area, said Robin Wales, the mayor of Newham, in the statement. “As well as presenting employment opportunities, a new campus will provide a significant boost to the local economy and provide a lasting legacy for the community,” he said.
The college has appointed Drivas Jonas Deloitte as its lead advisor on the project. Adam Harman, director of development at the company, said the college looked at a number of expansion alternatives before picking the Stratford area.
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