Hundreds of homes, a new hotel, shops and art galleries are set for Shoreditch under approved plans.

A plot of land next to Shoreditch High Street station, unused for decades, will see ten buildings come to the area in the next few years.

Plans for the scheme have been in the pipeline for years, but were finally given the green light by the Mayor of London.

The original proposals for the ten-acre site included more than 1,000 homes, but these were revised after consultation with residents and Tower Hamlets and Hackney Councils.

The new plans include buildings up to 29 storeys tall, with 500 homes as well as space for offices and shops.

A park will also be built in the centre of the new quarter alongside the railway tracks – one of the biggest new parks in central London.

The new plans have also added 25 per cent more public space, including pedestrian areas running through the site.

Historic railway arches on the site will also be refurbished and used as shops and restaurants in the centre of the development.

The plans also include a large new hotel and “cultural buildings” for art galleries and exhibition spaces.

East London Advertiser: Shops are planned for historic railway arches at the siteShops are planned for historic railway arches at the site (Image: Ballymore)

The Bishopsgate Goodsyard scheme is expected to cost more than £900 million and is being built in a joint venture by developers Ballymore and Hammerson.

John Mulryan, Ballymore’s group managing director, said: “Bishopsgate Goodsyard is one of the most exciting redevelopment sites in London today. It will bring vitality to the district, create thousands of new jobs and significantly boost the local economy.

“With a mix of new homes, sitting alongside workspace, shops, cafes and restaurants, cultural buildings, new streets and one of central London’s largest new parks, this place is designed with wellbeing in mind, where people want to live, work, and enjoy themselves.”