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21 November 2012, 11:50 | Updated: 24 November 2012, 12:12
Earls Court Exhibition Centre in west London is to be demolished to make way for thousands of new homes.
Plans have been approved to create four "villages" and a "high street" on a 77-acre site, creating 7,500 houses and 12,000 permanent full-time jobs.
It is expected to take 20 years to complete the "new London district" which is based on plans by architect Sir Terry Farrell.
But the plan will also mean tenants at the West Kensington and Gibbs Green housing estates will have to be re-housed.
Councillor Paul Warrick, who chaired last night's Kensington and Chelsea planning committee meeting, said: "Redeveloping Earls Court to provide much-needed housing and other uses has been our policy for many years.
"On both sides of the border (with Hammersmith and Fulham) we hope that the granting of this planning application will make Earls Court a more desirable place to live with less congestion and more opportunity for work, commerce and leisure."
The Exhibition Centre opened 75 years ago, since then loads of stars, including the Spice Girls, Queen and the Rolling Stones have performed there, and it hosted volleyball during the 2012 London Olympics.