Designed by Rafael Vinoly Architects PC, Battersea Power Station is located in London, United Kingdom. CABE (the commission for architecture and the built environment) has finally praised Rafael Viñoly’s designs for the massive redevelopment of the 38-acre Battersea Power Station site in south west London. Decommissioned in 1982 the power station has stood in ruins on the south bank of the Thames but will now be the centrepiece of the new development. The plans have seen drastic revisions since Viñoly was first appointed to the project with initial plans which included a 300 m glass chimney and eco-dome scrapped after Mayoral intervention.
The new designs revealed in June last year heavily feature green roofs across the development and produce public space encircling the power station, as well as substantial tower blocks. Five hundred new homes were added in the redesign to total 3,700, and 1.5 million sq ft of office floorspace, community facilities and 500,000 sqft of retail, restaurants, leisure space and a hotel are to be created.
While CABE support can be pivotal, the project still has many hurdles to jump. REO (a subsidiary of Treasury Holdings) who own the site were advised by auditors in October last year that they may not be able to sustain their debts of £1.621 billion in the current financial climate. While in a statement issued on 19 November REO advised their loan for Battersea remains stable, the strain on the company was evident upon the announcement that Rayford Homes Limited, another of their companies, went into receivership that same month. REO are currently in talks with Lloyds Bank over funding which they believe will be aided by ‘the positive planning position and strong residual value of the site caused by the large increase in development density’ of the new plans.