As part of the section 106 agreement, the developer will be expected to contribute more than £4m towards Crossrail and more than £1m towards affordable housing in the area. More than £2m will also be invested by the developer into the local community. This will involve investment in local bus services, improvements to local parks and open spaces and provide new skills and training initiatives for local residents.
The Mayor said: "I have now had the chance to consider the Columbus Tower application in great detail and, more importantly, had the opportunity to listen carefully, and in person, to the arguments for and against this proposal. I am satisfied that all the major concerns have been addressed and I believe the application will not only strengthen the success story of the Isle of Dogs, but will be hugely beneficial to the whole of London."
He added: "As well as being suited to the Canary Wharf district with its distinctive tall buildings, the overall size of the development means that it will deliver a huge contribution to the cost of Crossrail, which is central to the continued success and prosperity of both Canary Wharf and the entire capital."
The application was the subject of a one-day public hearing.
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