Legal & General (L&G) has submitted a planning application for the £350m ($424.95m) Bristol Temple Island regeneration project in the UK.

This initiative aims to transform the former diesel depot site into a dynamic urban quarter in the heart of Bristol.

According to the company, the project will establish a new urban district featuring centrally located homes, workplaces, and inclusive employment opportunities.

The development is designed to promote innovation and economic growth, contributing to the wider regeneration of the Bristol Temple Quarter area.

The proposed plan includes the construction of 520 new homes, two office buildings, retail space, flexible workspaces, and a hotel with conference facilities.

This comprehensive development is expected to generate up to 2,000 new jobs, boosting the local job market.

Also, sustainability is a cornerstone of the project, as all commercial buildings will aim for Building Research Establishment Environmental Assessment Method Outstanding status, with a focus on enhancing biodiversity through planting and creating enjoyable public spaces.

The project focuses on environmental goals by enhancing connectivity, reducing car use through new pedestrian and cycle routes, and ensuring strong building design and inclusive spaces.

Zaha Hadid Architects and LDA Design are at the forefront of designing the buildings and landscaped areas.

Bristol City Council leader Tony Dyer said: “It’s great to see proposals for much-needed new homes and commercial space submitted for Temple Island. The council has been working with L&G for a long time to bring these plans forward, so this is an exciting milestone to reach after so much hard work.

"Temple Island will be a key part of the wider Bristol Temple Quarter area, contributing to our ambitions to deliver 10,000 new homes and thousands of new jobs across the area."