Canary Wharf

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London's Canary Wharf district is a neighbourhood that underwent a redevelopment in the late 20th century, that saw real estate prices skyrocket.[1] London developed as a river port. There is a bend in the Thames River, opposite the neighbourhood of Greenwich, which became an industrial area, with many wharves and warehouses, that had grown obsolete by the late 20th century, when goods were shipped by standard sized containers.

Canadian real estate developers from the Reichmann family developed a plan to redevelop the neighbourhood, around businesses and expensive residential buildings. Their plan included building a Rapid transit route to the neighbourhood, the Docklands Light Rail, at their own expense.

References

  1. John Willcock, Clare Garner. pounds 2bn float will crown the fall and rise of Canary Wharf, The Independent, 1999-03-02. Retrieved on 2022-04-05.