The project was developed following extensive consultation with local residents and businesses and was modified to meet calls for more public open space.

The Masterplan includes: a substantial, high density, mixed use development including approximately 900 new homes, with retail and leisure floor space at ground level; two landmark buildings of 28 and 35 storeys at the southern, City Road end of the basin; new facilities and accommodation for the Islington Boat Club; a 58% increase in green space, and an almost threefold increase in the level of publicly accessible space and the creation of a new "civic space" at the head of the basin with public access around the entire basin for the first time in its history.

"The Masterplan will ensure a high quality and consistent approach to the development of all the land around the basin and the full integration of this unique water space, " said Adelle Peattie of City Road Basin Limited. "This scheme will breathe life back into the basin and create a major new attraction between the Angel and Old Street."

"This secures the future of one of the most important water spaces in London, " commented Gary Watt of British Waterways London. "It will create new public open space, give a major boost to the work of Islington Boat Club and open up a new boating destination in the heart of the city."