The council of London have approved a £3.5 billion project to transform East London's Docklands area into the UK version of New York City's cooler-than-cool Meatpacking District. If approved by the Mayor of London and the communities secretary, the project will be completed by 2018.

The British version of the coveted NYC area will feature 3,000 homes, boutiques, a school and see the abandoned Millenium Mills building transformed into a technology and media hub for rising start-up businesses.

The Mayor of Newham, Sir Robin Wales noted that the project is "a fantastic opportunity to reinvigorate the Royal Docks area, giving it a new lease of life benefiting Newham and the capital as a whole," adding: "Our vision is to transform the area into a world-class business centre that not just entices established companies but also creates an exciting and vibrant place for new companies to grow and flourish."

The project has met some criticism, as a few people have voiced concerns that the abandoned mills (which many moons ago milled flour) have a rich history, which will be lost if plans go ahead to turn them into "soulless office space" and "overpriced luxury apartments."

Dubai's Sheikh Mohammed recently had plans for a £20 million super car park in London approved. Read all about it here.