The changing City
There have been huge changes in the patterns of trade in the City since 1939. During the last 70 years, the City has evolved from trading in physical goods including fur, fish meat, and other commodities, which could be carried by rail and ship and stored in warehouses to today’s trading where the medium is electronic. Data, including bonds, currencies, equities and derivatives are transmitted and stored in new ways. Over the next 40 years we envisage the pattern of change accelerating and new building typologies will be required to meet the demands of a new generation of City occupiers.
We envisage the City Core will not change significantly, in physical terms. However, the perimeter of the City will become the focus for major new developments. We propose these will take place outside the City Core around a new green “ring” or “necklace” that can be developed to link the City Core and the adjoining areas, including Tower Hamlets, Southwark, Mid-town, Hoxton and Clerkenwell.
Our vision for 2050
• A de-carbonised City Core with pedestrianised streets, with a mix of uses including retail, residential and more green space.
• More intensively occupied real estate. By 2050 the City will accommodate 50% more workers albeit occupying 25% less space.
• A new eco-park will be created on the River Thames with new bridges and islands linking the City to transport interchanges, leisure and cultural centres.
• A new cultural quarter will emerge around Smithfield Market.
• The east of the City sees a major re-development with a new Financial Centre at Aldgate which links Broadgate with the Tower of London. New hybrid buildings will emerge here on a scale never seen before.