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From Architectural Record:

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New Retail and Office Development to be Built by Nouvel in London

October 17, 2005

Jean Nouvel's first major scheme to be built in the City of London next to St Paul's Cathedral, a landmark retail and office development named One New Change, has been unveiled. The matte-glass-clad building has 340,000 square feet of office space and extensive public space on its rooftop. The design aims to be respectful of its historically-sensitive location first developed in its current form in the 17th century.

It will also improve the environment in this part of the city. New arcades created at street level in place of a long sequence of vacated premises will help reinstate a centuries-old pedestrian route. A further connection running east to west will create new panoramas of St. Paul's. With 220,000 square feet of retail over three floors, the scheme is a rare addition of its type to the city, and one of the largest consolidated retail spaces in central London.

Nouvel said, "The design of One New Change is about enriching the city with a new sort of modernity, one that reaches beyond itself to speak, to contemplate and to reveal the diverse character of its surroundings. The proposed design provides a unique opportunity to bring the public into the site and enjoy new views of the Cathedral." Nouvel has been supported throughout the design process by UK architects Sidell Gibson who have worked closely with One New Change's developer Land Securities on new buildings in London.

Lucy Bullivant
 
I wonder if this is being built on the site of Paternoster Square. When I visited London in 1996 this block was a modernist failure, sterile and empty grey office buildings surrounded an equally sterile and empty plaza. The lone tenant there was a Burger King. It seemed poised for redevelopment, perhaps just waiting for the lease of that fast food establishment to run out.
 

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