The London Thames Gateway Development Corporation (LTGDC) has marked its closure by detailing the groundwork it has laid for regenerating East London.
Created in 2004 with an expected 10-year lifespan, the LTGDC saw its lifespan cut short when the coalition government came to power and passed responsibility for its work to the London Legacy Development Corporation (LLDC) and Greater London Authority (GLA).
In a final report marking the end of its eight-year life, LTGDC chief executive Peter Andrews has argued that the organisation spent its time “punching well above its weight” as a 41-strong “partnering” development corporation.
He insisted that in what was “effectively six full years of operation” the corporation put in place programmes, partnerships and policies that would deliver 10,500 new homes, 5,000 jobs, £1.2 billion of private-sector investment in its 'big 8' locations, and £54 million of direct private-sector investment in its projects.
Andrews said the realisation of those goals would now depend on the stewardship of the GLA and LLDC.
He said he was proud of LTGDC’s achievements, and that it was fortunate that some of its key individuals were now working with its successor organisations.
LTGDC chairman Bob Lane said East London was "on the home straight" to a period of fulsome renewal.
“With a successful Olympics behind it and increasing recognition of development opportunities that the area affords, the next 10 years should place the seal on the sub-region’s resurgence," he said.
“Passing the Baton provides the understandings and insights that will help our successor agencies and partners to secure East London’s future by continuing to build on its past achievements.”
The report can be read in full here.
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