Canary Wharf
1 Canada Square was the first building to dominate the skyline in East London in the new ‘Enterprise Zone’ established in the 1980’s. Following its completion in 1991 it became the UK’s tallest building.
Intended as a powerful symbol of the regeneration of Docklands it stood alone for some time and seemed an unlikely challenger to the City of London. During its first two decades it was to reflect the travails of capitalism as its ownership changed following the collapse and rebirth of the property market and finally the international banking crisis.
The new enterprise zone got off to a rocky start. Local residents were unconvinced by talk of jobs and opportunities. In May 1992 Olympia and York, Canary Wharf Limited filed for bankruptcy.
In December 1995 an international consortium, backed by the former owners and other investors, bought the scheme. The new company was called Canary Wharf Limited, and later became Canary Wharf Group.
In the end the homeless were not housed at Canary Wharf.