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The iconic Marconi building in Chelmsford will be turned into homes and offices.
Planning permission for 437 homes, office space and open areas was approved yesterday (Monday March 4th).
The site on New Street is the factory where the first ever radios were built but in recent years the building has been left empty and derelict.
Developers, Bellway Homes, bought the 3.99 hectares of land in 2012.
The company says it plans to retain a number of key buildings on the site and re-use them, including the 1912 Building, the Water Tower and Power House.
The 1912 Building, for example, is to be used as offices.
There have been some objections to the plans though, with concerns about the height and design of the new buildings as well as the impact on traffic on the surrounding roads.
Planning officers at Chelmsford City Council have said there has been no objections raised by the highways authority and a comprehensive Traffic Assessment ruled the development would be "unlikely to cause undue problems on the highway network".
The officer's report also says the size and design of the buildings are "considered to be appropriate and not out of keeping".
Bellway has also agred to contribute nearly £3 million to improve the infrastructure of the surrounding area to help it cope.