Purpose

The Council has prepared the Tower Hamlets Future Places (THFP) report for the borough, which will tell a clear and coherent story about its vision for regeneration, present growth-related successes and strong partnership working, and present to potential new investors and partners the scale and breadth of opportunities in Tower Hamlets, to encourage future inward investment, growth, and opportunities for residents. THFP will be used a springboard for the Council to build a future pipeline of regeneration activity across the borough.

Decision

DECISION;

1. ENDORSED the Tower Hamlets Future Places (THFP) framework as the borough’s strategic narrative for showcasing its achievements, strengths, and long-term development ambitions.
2. AGREED to use THFP to strengthen engagement with investors and partners, supporting a more coherent and proactive approach to attracting high-quality, sustainable investment aligned with Council priorities, ahead of its launch at MIPIM in 2026.
3. Noted the specific equalities considerations as set out in Paragraph 4.
4. AGREE to attend future MIPIN events to explore opportunities for global engagement and present an update report at a future Cabinet meeting.

Reasons for the decision

•         THFP actively promotes Tower Hamlets as the local authority experienced, effective and innovative in supporting inclusive growth, the most successful (inner) London borough in delivery of regeneration opportunities to date and with great ambitions for the future.

•         It outlines a clear vision for sectoral and spatial regeneration, and the council’s commitment for partnership working to maximise public benefits for local business and residential communities.

•         The establishment of a coordinated approach to engaging regeneration stakeholders, alongside the preparation of targeted delivery plans for initiatives identified within Tower Hamlets Future Places, supports the Council in committing to a long-term strategic vision that reflects shared ambitions for the borough and aligns with the Our Tower Hamlets 2025 2035 Plan, the Strategic Plan, and Mayoral priorities.

Alternative options

•         The Council could choose not to adopt the recommendations within THPF and continue re-active approach to regeneration initiatives in the borough. However, this would endanger its ability to actively shape and deliver on key manifesto priorities and reduce the visibility of the potential for partners to invest in the borough.

Action by:

CORPORATE DIRECTOR FOR HOUSING & REGENERATION (D. JOYCE)