Developer Stanhope said its £450M Central St Giles redevelopment in London will be the first to be governed by developer Stanhope's tough new sustainability standards that go beyond Part L of the building regulations.
The news came as Legal & General and Mitsubishi Estate announced that they would jointly fund the project.Stanhope chief executive David Camp said, 'The scheme, to be completed in 2009, will see a much-needed regeneration of the St Giles area, to the east of Oxford Street and we are sure that it will benefit from what we hope will become a benchmark for environmentally friendly building.' The project comprises 37,000m2 of offices, 3,700m2 of affordable housing and 3,700m2 of private housing. The three elements form a new public piazza at the heart of the project surrounded by 2,800m2 of retail space and restaurants creating an integrated mixed use scheme.The mixed-use development will be subject to a 10 point sustainability plan. These include making building energy performance 20%t better than that stipulated in Part L of the Building Regulations. It will include 30% less water consumption, 30% less construction waste. Eighty per cent of construction waste will be recycled.