Mayor of Newham Sir Robin Wales will 'break ground' on a landmark development in East London later this week.

Sir Robin will be joined by Sir Michael Lyons and Bob Lane, who chair the English Cities Fund and London Thames Gateway Development Corporation (LTGDC) respectively at the £180 million Rathbone Market site in Canning Town.

The first phase includes 271 new homes, which will be completed by late summer 2012. The market will continue to trade during the construction period for the benefit of shoppers and traders. Stallholders have been relocated next to the remaining shops at the Percy Ingle's end of the market, bringing all the stalls and shops together to create a more vibrant market during the works. Developer ECF has appointed contractors Sisk to undertake the work.

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The development is part of the Canning Town & Custom House Regeneration Programme, which aims to transform the area physically, socially and economically to create a sustainable and mixed community, where new and old residents choose to live, work and stay.

The regeneration programme will deliver more and better new homes, improved and expanded town centres at Canning Town and Custom House, improved links and connections across the A13 and between the bus and rail station as well as better quality streets and investment in infrastructure, services and community facilities.

Sir Robin said: "This development represents a crucial part of the borough's physical and social regeneration of the borough as we approach the London 2012 Olympic and Paralympic Games.

"We want our residents to have the same opportunities and aspirations as people living elsewhere in the capital and this project will provide our residents with a living environment of which they can be proud."

The 680,000sq ft Rathbone Market scheme is one of the first sites to be developed within a wider masterplan framework that sets out a vision for the regeneration of the area. The site is in a prime spot, next to the Canning Town DLR and Underground Station with regular services to Stratford, the Olympic Park, Canary Wharf, the City and the West End.

The Mayor of London and the HCA provided £13.8 million of funding, with an additional £1.5 million awarded from LTGDC to enable to the scheme to progress.

(CD)