The largest investment in London’s road and street network will see £4 billion spent on transforming the capital.
In response to the recommendations of the Mayor's Roads Task Force, which last July unveiled a bold new vision to radically improve London's roads, streets and public spaces, a total of 50 projects are now underway.
The Mayor of London, Boris Johnson, said: “Smarter design of our roads and public spaces, exemplified by our radical plans for Elephant & Castle, will play a key role in ensuring that London remains the best big city to live, work and invest.
“We've been hard at work putting the bold and imaginative blueprint of the Road's Task Force into practice and we're now seeing the fruits of that labour at key locations across the capital.”
The redevelopment of the northern roundabout at Elephant and Castle is one of London's biggest regeneration projects (see picture).
The radical plans, which will create 5,000 new homes and 4,000 jobs, will vastly improve the facilities for road users and local residents. Dedicated cycling facilities will also be created, with public consultation starting later this month and work beginning early next year.
The IMAX roundabout at Waterloo will also be redeveloped, creating better interchange facilities at Waterloo station as well as improved facilities for cyclists.
Today (4 March) also marks the completion of a major project to transform Euston Circus, one of London's biggest and busiest road junctions, unveiled by Transport for London (TfL), Camden Council and developer, British Land.
The overhaul, which will make the junction safer for cyclists and pedestrians as well as significantly increase space for urban realm, is the first major project in the capital to be delivered using the recommendations set out by the Mayor's Roads Task Force.
TfL's managing director of surface transport, Leon Daniels, said: “The Roads Task Force was set up to deliver world-class streets and roads fit for the future to support London's population which is set to grow to 10 million people by 2031.
“Balancing the needs of all users, we will be investing millions into transforming London's road network in the coming years, helping to keep the capital moving while creating new, inviting places to work, shop and relax.”
In a statement, TfL added: “These improvements, made in partnership with London's boroughs, developers and businesses, will ensure the capital can cope with major population growth and remain one of the most economically productive, vibrant, accessible and attractive world cities.
Alongside the transformation of 33 of London's road junctions announced last week as part of the Mayor's cycling programme, there will also be more than £200m of additional far-reaching improvements at 17 major locations across the capital, including: Croydon Fiveways; Balham High Road; Brent Cross; Charlie Brown's Roundabout; Euston Road; Lombard Roundabout; London Road Roundabout; Malden Rushett; Mill Hill Circus; Purley Cross Gyratory; Barking Riverside; Seven Sisters Road; Stoke Newington Gyratory; Thornton Heath Ponds; Trinity Road; Tulse Hill Gyratory and Victoria Circus.
Funding for these schemes will be covered by the Transport for London (TfL) Business Plan and through third party contributions.