Property developer Olympian Homes has received planning approval for the proposed development of 795 co-living homes from the Tower Hamlets planning committee in the UK.
The company has also signed contracts with LCN Commercial Properties and the Trustees of the HPB Pension Trust for this project.
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The proposed 795 co-living studio units in a 46-storey tower will be located in the Isle of Dogs.
The decision follows after a planning permission application was sent by the company to the London Borough of Tower Hamlets in April 2022.
The project covers a gross internal area (GIA) of 36,105m² or 388,628ft².
Amenities in the building will include access to the lower floor amenity areas, co-working spaces, café, cinema, gym, winter gardens, external amenity space and a three-storey sky lounge.
The design proposal also includes major changes to the site’s public realm and outdoor amenity space.
The building will also provide access to shared cooking and leisure areas on each floor, as well as flexible rental agreements.
The development will create construction, supply chain and building management-related jobs and training, which will contribute to the local economy.
Olympian Homes noted that works on the site are anticipated to start in August this year.
