IKEA planned to build an entire neighborhood in London - now it's finally happening without IKEA
Vastint is moving forward with its original vision of building a mixed-use, energy-efficient neighborhood.
In 2017, Vastint rebranded the project as Sugar House Island, an homage to Sugar House Lane, which runs through the center of the site.
The land was also home to a mid-nineteenth-century sugar refinery. At the moment, the old Victorian Sugar House is being renovated to make room for workspaces and residential units.
The word "island" refers to the fact that the development is surrounded by waterways on two sides.
About 15 months ago, developers broke ground on the first phase of development — a project called Dane's Yard.
The first round of buildings will be completed by the end of the year, while the rest will be ready by early 2019.
A team of three designers set out to preserve the site's rich history by refurbishing old warehouse buildings, yards, and alleyways.
The development caters to East London's growing share of creative workers, many of whom have been priced out of the urban core.
The canal-side project features 100,000 square feet of office space, with rents starting at around $35 per square foot.
Developers expect the project to create 2,500 new jobs.
The arrival of new workers will be a "huge boost for the local area," said Cobden.
A two-story gallery space sits along the river, across from a workspace designed for a single tenant.
The workspace features a sawtooth roof, which captures and regulates natural light.
The entire neighborhood is divided into 13 plots, each designed by one of nine different architects.
When completed, Sugar House Island will feature more than 624,000 square feet of office space, 1,200 homes, and nearly 131,000 square feet of green space.
Developers have also made room for new restaurants, cafés, shops, a primary school, and a 350-bed hotel.
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