City of London Local Plan moves step closer to formal adoption
Today, the City of London Corporation Planning and Transportation Committee has decisively approved the ‘City Plan 2040’ for the Square Mile. This decision paves the way for further approvals by the Policy and Resources Committee and Court of Common Council in the near future. Upon their approval, the plan will be open for public input before being reviewed by the Secretary of State.
The ‘City Plan 2040’ has been developed over several years, incorporating extensive public input and a comprehensive evidence base. It aims to direct the planning and developmental agenda in the Square Mile through 2040, focusing on:
- Fostering a dynamic and competitive economy, aiming to add over 1.2 million square meters of office space by 2040.
- Transforming the Square Mile into a cultural and leisure hub accessible seven days a week.
- Promoting sustainability with a goal of achieving a net zero Square Mile by 2040.
- Creating a welcoming, inclusive, and healthy environment.
- Honoring local heritage while also revitalizing areas with high growth and regeneration potential.
A public consultation on the plan is set to commence this Spring, inviting feedback from all interested parties, followed by an examination by an independent Planning Inspector later in 2024.
Shravan Joshi, Chairman of the City of London Corporation’s Planning and Transportation Committee, highlighted the unique qualities of the City of London as a global economic hub and a historic city. He emphasized the need for adaptation and growth, stating that the ‘City Plan 2040’ will be instrumental in responding to contemporary challenges and enhancing the Square Mile’s strengths.