City of London is planning to convert empty offices into housing in a bid to revive the area after the COVID-19 crisis.
City of London Corporation, which looks after the Square Mile, plans to create at least 1,500 new homes by 2030, as a result of increased home-working due to the pandemic.
During the pandemic, many city centre areas have been left empty as workers stay home to reduce the risk of transmitting the virus.
As part of a recovery strategy, the Corporation has set out how it will “rise to the challenge” of adapting to a post-COVID society.
The Corporation says it plans to use a mixture of new schemes and refurbishments of old buildings to meet its target.
At least 35% of the new homes would be allocated to affordable housing, it said.
In March 2020, there were about 7,850 residential units in the area – mostly found across purpose-built estates.
Under the new proposals, long-term lets in empty buildings could be offered to creatives, while also attracting “high-potential tech-led businesses” to the area with improvements such as better 5G accessibility.
Commenting on the move, Catherine McGuinness, Policy chair at the City of London Corporation, said: “Firms have told us that they remain committed to retaining a central London hub, but how they operate will inevitably change to reflect post-pandemic trends, such as hybrid and flexible working.
“The Square Mile must evolve in order to provide an ecosystem that remains attractive to workers, visitors, learners, and residents.”
Image: r.nagy/Shutterstock
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