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Authority in March 2012 to deliver the regeneration of the New Covent Garden Market site , including the provision of a modern new market .
This landmark 10 year project , the largest in the Nine Elms regeneration area , will see the delivery of over 500,000 sq ft of new state-of-the-art market facilities across a 37 acre site which will house the 200 market businesses currently employing around 2,500 people .
The remaining 20 acres of land will be transformed by VSM into three high quality residential neighbourhoods comprising of 3,000 new homes , which will be within three tower blocks .
The first block was completed in October 2022 and the tenants of the existing blocks A & B Blocks moved into the new units which signalled the demolition of the blocks they vacated .
When that demolition work is done , construction of the new Block B will continue , and this will house tenants moving out of blocks C & D , which will subsequently be demolished itself to make way for the second half of the new Block B . which will house the current residents of the current blocks C & D which will be demolished to make way for the second half of Block B .
And so it will continue , as each movement of tenants from one part of the market to their new home signals a further round of demolition and construction . Work on the roads and the remaining infrastructure to support the new Fruit & Vegetable market will all be carried out alongside these phases .
The development will also house 135,000 sq ft of office space ; and 100,000 sq ft of retail , leisure and new community facilities , including shops , cafés and restaurants .