The Fruit and Wool Exchange in Spitalfields will soon be getting a make over after Boris gave plans the go-ahead when previously the Tower Hamlets Council had turned it down.
The large historic building will be developed into flats, office and retail space.
The decision has not been one that was taken lightly with Boris being booed as he announced his decision. The concern is for the heritage of the history of the area of course and it is feared that the re-development in the area could lead to the loss of loss of Dorset Street, which was where Wedgewood china company opened its first showroom and where Jack the Ripper murdered his last victim.
The facade of the building will be left in tacts but most of the rest will be demolished and rebuilt as a six storey building
The one good thing about it all is that it is estimated the development will create around 2,000 extra jobs in the area. Some say this will change the ethos of the area that in recent years has become a hive for small businesses and alternative companies and pop ups.
Exemplar will take on the transformation task in partnership with the City of London and redevelopment is due to be finished in 2015.