New plans to redevelop the site around Woolwich Public Market could be submitted next year, Greenwich councillors have been told.
Greenwich Council first announced proposals to build homes and shops on the site opposite the Elizabeth Line station more than 12 years ago, but the scheme has been beset by problems.
In June, the council announced it would be buying up shops and businesses in the area itself after its partner in the Woolwich Exchange project, Notting Hill Genesis, was unable to find the money itself.
The new plans will include about 900 homes while keeping the Grade II-listed Public Market, Tom Creswell, the cabinet member for regeneration will tell the transport and place scrutiny panel on Thursday.
At present, the development has permission for 801 homes, with towers rising to 15, 17 and 18 storeys and two 23-storey blocks.
Creswell will be appearing before councillors to update them on large-scale development projects across the borough.
Plans for the area between Plumstead Road and Spray Street first emerged in 2016, but the first version of the scheme – then called Spray Street Quarter – was scrapped after a Grade II listing was placed on the Public Market.
The second version of the scheme, which would have included Woolwich’s first cinema since the Coronet closed in 1999, was approved in 2021, but included no social housing. The chair of planning at the time, Stephen Brain, said he had “very, very strong reservations”.
But two years later one of the two developers behind the scheme, St Modwen, pulled out, leaving Notting Hill Genesis unable to raise the funds to continue.
In April, The Greenwich Wire spoke to traders who were unhappy about being left in limbo for years. But in June, the council announced its new approach, reducing the scope of the scheme so it did not have to buy so many properties.
A report to councillors before the meeting next week says that the council plans to start taking over the ownership of properties from September next year, with the occupiers able to stay until April 2028.
Creswell’s update to councillors also includes projects such as the Thamesmead Waterfront new town and Charlton Riverside, where the council has teamed up with the housing association Hyde.
Hyde already has permission to build homes by the river in Charlton, while the council owns sites around Penhall Road. Together, they hope to build up to 3,500 homes and “significant employment space” on the combined 11-hectare site. Altogether, some 8,000 homes could be build across the riverside area.
The transport and place scrutiny panel takes place on Thursday November 12.
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