Meanwhile, defunct industrial sites along the Thames and the city’s hundred-mile network of canals are being reinvented as new neighborhoods-and pricey waterfront real estate-featuring pedestrian-friendly public spaces and retail shops that favor local entrepreneurs over chain outlets. Half are going up in East London, soon to be better connected to West London when Crossrail, the $20 billion high-speed railway, opens its Elizabeth line next year, relieving congestion on the aging London Tube and cutting travel times between east and west by as much as half. More than 500 new tall buildings are in the pipeline across Greater London. All that growth fed a construction boom that is redrawing London’s historic skyline and includes several of the largest regeneration projects in Europe. And despite the upheaval of Brexit, London is on track to add two million more residents by 2050. The city is home to more than 8.8 million residents-a population expansion largely fed by immigration. Three decades of growth transformed London from a fading grande dame into the preeminent global city and a leading center of culture, finance, and technology. Its status as the center for bankers in Europe may be threatened by Brexit.īees to the honeypot: London is bigger and richer than ever. With time ticking on the "Six Public Clocks" installation, workers break on Reuters Plaza during lunch hour in the Canary Wharf financial district.
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