Croydon's Ruskin Square work begins (From This Is Local London)

£500m Croydon development of Ruskin Square begins

11:30am Thursday 9th February 2012 in Where I Live By Nick Hitchens

Building work on one of the key regeneration projects in the town has begun.

Work on developers Stanhope’s £500m Ruskin Square project, first agreed by Croydon Planning Committee in 2007, is set to begin, with company Mace as construction manager.

The scheme is part of Croydon Council’s master plan and covers 8.5 acres, 900,000 square feet of office space, 50,000 square feet in retail, 415,000 square feet of residentital and 35,000 of leisure facilities.

Charles Walford, director of Stanhope, said: "Our business plan for investing in Croydon is simple.

"The public transport is excellent, it is part of greater London, it is an existing place with an aging office stock and a large number of occupiers, it has a proactive and pragmatic local authority, it has huge retail potential and incumbent investors and developers that will make it happen."

A spokesman for Croydon Council said: "Ruskin Square forms a centrepiece for our local masterplans, and along with the many other developments that are currently being built it will help to ensure that the borough regains its status as a prime business centre.

"This site has always been known as the gateway to Croydon, so it is good news that we will soon see some work underway."