Boris welcomes £500 million investment to rebuild The Crystal Palace and restore park

The Mayor of London, Boris Johnson, has welcomed plans for a £500 million investment to rebuild The Crystal Palace and restore the surrounding public park unveiled today by the Chairman of the ZhongRong Group Mr Ni Zhaoxing. The ambition is to rebuild The Crystal Palace as a major new cultural destination for the capital on the site of the original Victorian building, which burned down in 1936. The Palace will build on the extraordinary history and character of the site and form an iconic centrepiece in the park, which will also be restored to its former glory.

The Zhongrong Group investment and plans were announced at a launch event today with the support of the Mayor of London and the leader of Bromley Council Stephen Carr. Further information is available at London Crystal Palace The new culture-led exhibition and employment space will sit at the top of the 180-acre Crystal Palace Park in south London. It will incorporate the listed Italian style terraces, and other Victorian heritage within the park, fully restored for the public.

The plans for Crystal Palace include the full restoration of the park, based on the original Victorian design, through new landscaping, planting and a central tree-lined boulevard. Improved access, lighting and a new café, visitor centre and restored concert bowl, are also included in the proposals. The Mayor of London also announced today that he will chair an advisory board to steer the project forward and to develop the principles that will guide the detailed design and plans for The Crystal Palace and park. The aim is to ensure the plans are of the highest quality, sympathetic to this much-loved heritage site, and fit for the 21st century.

The board will include the Leader of Bromley Council Stephen Carr and:

• Hank Dittmar, special advisor to HRH the Prince of Wales.
• Sir Tim Smit, co-founder of the Eden Project and Executive Chairman of Eden Regeneration.
• Sir John Sorrell CBE, Chairman of the London Design Festival and UKTI Business Ambassador.

The board will work with the investor and its appointed designer to ensure a building and landscape design of the highest quality that enhances and celebrates the park's heritage. The Board will also help to develop the detail of the cultural attractions aiming to create a unique experience for visitors and local residents alike.

Over the coming year, engagement and consultation will take place with local organisations, businesses, residents and Londoners to inform the development of detailed designs and plans for The Crystal Palace. Significant work will be undertaken with Transport for London to assess the local transport impact, especially around the road network, although the rail access, especially with the new London Overground to Crystal Palace, is already strong.

The investor has submitted a request for an exclusivity agreement to Bromley Council as the land owner, which it will consider shortly. A planning application could be submitted as early as autumn 2014 ahead of work starting on site in winter 2015. The project is expected to create more than 2000 permanent and temporary jobs as well as attracting wider investment into the local high streets and the wider economy. Opening up these jobs and opportunities to local people will be a priority.

Chairman of the ZhongRong Group Mr Ni Zhaoxing, said: "London is renowned across the world for its history and culture and the former Crystal Palace is celebrated in China as a magnificent achievement. This project is a once in a lifetime opportunity to bring its spirit back to life by recreating The Crystal Palace and restoring the park to its former glory to create a new and exciting destination for local people and international visitors."

Mayor of London Boris Johnson said: "Paxton's stunning Crystal Palace was a beacon of innovation in the 19th century, encapsulating a spirit of invention which was to shape London and the world for generations to come. Since the iconic building was destroyed, the conundrum of what to do with the crumbling site has not been successfully resolved. Today's announcement marks an exciting new chapter for Crystal Palace Park. This is a vision that could not only see a world-class landmark building reinstated, of the quality of the original, but the restoration of the entire surrounding park, bringing jobs and growth. Together with Bromley council and taking account of the views of local people and leading experts, we'll now be working closely with ZhongRong Group to progress these plans in more detail."

Leader of Bromley Council Stephen Carr said: "We have long said that Crystal Palace Park is a jewel, not just in Bromley, but in London's crown too. The sad demise of the former palace is still within living memory and this visionary proposal is at an early stage, but would bring about much needed restoration and transformation. It has to be worthy of serious consideration, not just by Bromley Council but by local people too and I know there will be ample opportunity to comment in the days and months ahead."

The Crystal Palace - further information:

• The original Crystal Palace was designed by Joseph Paxton for the 1851 Great Exhibition in Hyde Park, in 1854 it was expanded and relocated to South London. The area became known as Crystal Palace.
• The innovative Palace was the largest glass structure in the world before being destroyed by a fire in 1936. Most of the original site is now unused by the public with a small section used for small-scale temporary events.
• Core design principles for the rebuilding of The Crystal Palace will be established by the Mayor's advisory board to guide the appointment of an architect by ZhongRong.
• It is planned that the Crystal Palace will update the innovative, translucent and delicate structure of the original along with its size and scale, which will be approximately the length of five football pitches and six storeys high (approximately 50m high and 500m long)
• The high-quality design and construction of the new structure is essential to recognise and celebrate the heritage of the park, which includes a number of listed features. The unique Victorian heritage within the park will be restored, including the Italian style terraces, the unique underpass, dinosaur models and maze.
• The Crystal Palace will be a new cultural visitor attraction for London with detailed plans to be developed, which will include free public and world-leading international exhibitions and events.
• ZhongRong is committed to funding the restoration of the park and the development of The Crystal Palace, which it is anticipated will include a hotel and conference facilities, studios, galleries and other commercial space.
• The National Sports Centre in Crystal Palace park and iconic television mast are to be retained under the current proposals, which do not include plans for new housing.
• Crystal Palace park needs significant investment to ensure its long term and viable future. Without any investment, the listed features in the park would be at risk of further decay, and the public costs involved in providing care and maintenance are set to rise