London to be Revamped with £4BN Investment

£4billion will be invested to revamp London’s road network using the capital funding pot with huge redevelopments planned for the north roundabout at elephant and castle.

 

The roundabout will become a two way high street designed to smooth traffic and reduce speeds at the notorious accident black spot. This project alone will create 5,000 new homes and bring about 4,000 jobs to work towards changing the gyratory system.

 

The projects were previously recommended by Boris Johnson’s road task force in a report last July. 50 projects will be taken on including the recent announcement to transform 33 of London’s most dangerous junctions to make them more cycle friendly.

 

Mr Johnson, said: “Smarter design of our roads and public spaces, exemplified by our radical plans for Elephant & Castle, will play a key role in ensuring that London remains the best big city to live, work and invest. We’ve been hard at work putting the bold and imaginative blueprint of the road’s task force into practice and we’re now seeing the fruits of that labour at key locations across the capital.”

 

 

The London roads task force consists of members from: The Greater London Authority, TfL, the Chartered Institute of Logistics & Transport, Living Streets, IBM, Sustrans, University College London (UCL), London First, London TravelWatch, London Councils, Motorcycle Action Group (MAG UK), the Independent Disability Advisory Group, British Land, the RAC Foundation, City of London, and Cyclists in the City.

 

TfL’s managing director of surface transport, Leon Daniels, said: “The roads task force was set up to deliver world-class streets and roads fit for the future to support London’s population which is set to grow to 10 million people by 2031.

 

“Balancing the needs of all users, we will be investing millions into transforming London’s road network in the coming years, helping to keep the capital moving while creating new, inviting places to work, shop and relax.”

 

Also included in the cash injection are plans to create better interchange facilities at the Imax roundabout at Waterloo and make the location safer for cyclists. £200million has also been allocated for more cycle improvements at 17 key locations across the city.

 

Funding will be sourced from the TFL business plan and from outside third party contributions.