Developer Knight Dragon has announced plans for a new £1bn crown-shaped project in London, UK.

Peninsula Place, designed by international architect and engineer Santiago Calatrava, is part of the wider development of Greenwich Peninsula — London’s emerging cultural district.

The 130,060 sq m development will feature a new tube and bus station, an 80ft high winter garden and glass galleria. It will also include a theatre, cinema and performance venue, bars, shops as well as a wellbeing hub.

Above this, three towers, comprising workspaces, apartments and hotels, will rise. The development will be linked to the Thames by a new land bridge.

Santiago Calatrava said: “In designing this scheme, I have been inspired by London’s rich architectural heritage and the very special geography of the Peninsula. It will be a project that reflects both this and the ambition of Knight Dragon for Greenwich Peninsula.”

Overall, Greenwich Peninsula regeneration project is expected to cost £8.4bn, and deliver 15,720 new homes in seven new neighbourhoods.

Sammy Lee of Knight Dragon said: “My ambition is for Greenwich Peninsula to be a unique cultural destination for Londoners and visitors to this global city. Calatrava's contribution will help ensure that the UK’s biggest regeneration project fulfils its potential to become just that.”

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* Image courtesy of Knight Dragon.