Proposed Doon Street tower cut from 48 to 43 storeys

Coin Street Community Builders is proposing a public swimming pool and leisure centre, 329 flats and a new headquarters for Rambert Dance Company on the site bounded by Upper Ground, Cornwall Road, Doon Street and Waterloo Bridge.

The original plans – first announced in 2005 – have been criticised by English Heritage and, most recently, Tory shadow culture minister Ed Vaizey.

Writing in the Evening Standard earlier this year English Heritage chief executive Simon Thurley said: "Lone towers like the proposed Doon Street tower ... are built primarily for a small number of very rich people to enjoy the views, and take no account of those who have to look up at them. Planning is crucial in this respect."

At 144.3 metres the revised Doon Street Tower will be nine metres taller than the London Eye and three metres shorter than Multiplex's Strata SE1 at Elephant & Castle.

CSCB says that in response to English Heritage's detailed criticisms it has lowered the tower by 28 metres (from 172.3 metres to 144.3 metres) and used white stone and bronze in place of stainless steel cladding.

Other changes to the scheme since the previous announcement include a two-storey addition to the education/office building, improved landscaping of the new public square near Waterloo Bridge and the incorporation of biomass technology into the scheme's power generation to meet new 'green fuel' targets.

The Doon Street scheme marks a significant departure for CSCB which has made its name as a developer of co-operative housing for people in housing need. The sale of the 329 flats in this development will fund the swimming pool and leisure centre.

An exhibition of the latest proposals is now on display in the CSCB information centre at Oxo Tower Wharf.