The first Nine Elms project to reach fruition will be Riverlight, designed by Richard Rogers.

WSJ: A Diplomatic Breakthrough

Other than that, the investment in Nine Elms is coming entirely from the private sector.

WSJ: A Diplomatic Breakthrough

"Nine Elms is the single largest regeneration site in central London, " says Tim Seddon, London regional director of St.

WSJ: A Diplomatic Breakthrough

It wasn't on the road, but into a building site where they are building the new Nine Elms area.

BBC: England

Wandsworth Road and Nine Elms Lane remain closed between Vauxhall Cross and Queenstown Road and up to eight bus routes are on diversion.

BBC: The crane in Vauxhall

His optimism is backed by real-estate agency Knight Frank, which named Nine Elms as one of London's hot spots in a 2011 research report.

WSJ: A Diplomatic Breakthrough

One key difference between Nine Elms and other London redevelopment zones, such as the Olympic Park at Stratford, is how squarely its projects are being aimed at wealthy foreigners and young professionals.

WSJ: A Diplomatic Breakthrough

However, the project will not go ahead until the current private-sector owners of the derelict power station and the neighbouring Nine Elms site are themselves ready to go ahead with a massive redevelopment of the site, which is expected to create 16, 000 new homes and provide a new location for the US embassy.

BBC: New transport infrastructure projects unveiled