Science
Vastint
A model of Sugar House Island
Seven years ago, developers from Ikea's intellectual property team, the Inter Ikea Group, announced a plan to build a 26-acre community in East London. The project garnered widespread attention for its simplistic, sustainable design - reminiscent of the popular Ikea aesthetic - and car-free zones, which intended to cut down on vehicle traffic.
For those familiar with Ikea's difficult-to-assemble furniture, it also provided an easy target: "Hold on to your instruction manuals," wrote CityLab's Eric Jaffe. "Ikea's building an entire neighborhood in London. I wonder if it comes flat-packed?" added Sam Gibbs of Gizmodo.
Design jokes aside, the project sparked excitement about the revitalization of a once-crumbling industrial site. Though developers planned to begin construction in 2013, the project grew quiet as they embarked on a four-year reclamation process, which involved dismantling old buildings, remediating the soil, rebuilding part of the river wall, and clearing the area of debris.
In the meantime, the development team split off from Ikea and rebranded under a new name: Vastint. The division allowed the Inter Ikea Group to focus on retail, while Vastint could dedicate its efforts to real estate. Ironically enough, Ikea never planned to locate one of its own stores in the development. The two groups still share the same owner, the Interogo Foundation.
Vastint's managing director, Andrew Cobden, said it was important to designate leaders who understood the neighborhood and knew how to meet the needs of the local community. While Vastint hasn't revealed the cost of the development, Landprop reportedly purchased the land for around $39 million.
With construction underway, developers hope to finish the neighborhood by 2024. Here's what it looks like now - and what it could look like once it's complete.