Back when this website was just a minnow we charted the attempts by residents to sell their apartment building and cash in on the growing property boom the first half of the decade saw.
Then they didn't succeed but this time around it looks like they've pulled it off as Londonewcastle are now working up a scheme for a 47 storey tower to stand on the site - enough to make it slightly under 500 feet in height.
Dollar Bay is a modestly sized eighties apartment block that sits at Lawn House Close on the eastern end of Marsh Wall in a prominent position that will give its western side views straight down the dock whilst those to the east towards the Millennium Dome will barely be obstructed either. The nearest planned tower is to the south west and will be Angel House with Wood Wharf W08 to the north west.
With this prime position in mind, Londonewcastle are planning to construct approximately 250 apartments in a scheme reportedly being worked on by Ian Simpson Architects. Early massing renderings of the tower show it with a triangular shaped floor plates and a sheer western face. The other faces of the building are angled to the north-east and south-west and taper in and out giving the tower a gentle bulge in its middle and slim line lower floors.
This sort of design makes perfect commercial sense as the more space you can fit on floors further up the tower the greater the amount of money you can make from them - logic that Land Securities has previously applied to 20 Fenchurch Street in the City of London.
With a construction cost on the project estimated at £96 million, that makes it potentially worth 158.69 million times its name.
The project is being managed by Buro Four and tentatively has a start date of March 2010 with on-site completion in September 2013. Public consultation for the scheme began in May followed rapidly by the developer having filed a scoping opinion with Tower Hamlets council.
The next step will of course be a planning application that should be surfacing later this year - something to look forward to as Britain emerges from recession.
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