The developers of a 912-foot-tall tower in Londonovercame civic opposition to the development after the City of London Corp.'sPlanning and Transportation Committee voted in favor of the project, Property Week reported April 5.
Members of the committee used Section 237 of the Townand Country Planning Act 1990 to settle a long-standing disagreement betweendevelopers Axa Investment Managers — Real Assets and Lipton Rogers Developments,and the landlords of nearby establishments at the 1.4 million-square-foot development over an issueof "rights of light," according to the publication.
The vote will allow the project to move forwardwithout the risk of an injunction. Following the approval, the developers' planfor the 62-floor building will proceed with construction ahead of its scheduledcompletion in 2019.
A City of London Corp. representative noted thatSection 237 is not often exercised as the municipal governing body carefullyconsiders all aspects before granting the special power.In the case of the 22 Bishopsgate project, the representative added that theuse of Section 237 was justified since the development would be beneficial tothe city in terms of job creation, local area improvements and additional floorspace.