The docks were originally built and managed by a number of competing private companies. From 1909, they were managed by the Port of London Authority, or PLA, which merged the companies in a bid to make the docks more efficient and improve labor relations. The PLA constructed the last of the docks, the King George V, in 1921, as well as greatly expanding the Tilbury docks. German bombing during the Second World War caused massive damage to the docks with 380,000 tons of timber destroyed in the Surrey Docks in a single night. Nonetheless, following post-war rebuilding they experienced a resurgence of prosperity in the 1950s. The end came suddenly, between approximately 1960 and 1970, when the shipping industry adopted the newly invented container system of cargo transportation. London's docks were unable to accommodate the much larger vessels needed by containerization and the shipping industry moved to deep-water ports such as Tilbury and Felixstowe. Between 1960 and 1980, all of London's docks were closed, leaving around eight square miles of derelict land in East London. Unemployment was high, and poverty and other social problems were widespread.
Efforts to redevelop the docks began almost as soon as they were closed, although it took a decade for most plans to move beyond the drawing board and another decade for redevelopment to take full effect. The situation was greatly complicated by the large number of landowners involved: the PLA, the Greater London Council (GLC), the British Gas Corporation, five borough councils, British Rail and the Central Electricity Generating Board. To address this problem, in 1981 the Secretary of State for the Environment formed the London Docklands Development Corporation (LDDC) to redevelop the area. This was a statutory body appointed and funded by central government with wide powers to acquire and dispose of land in the Docklands. It also served as the development planning authority for the area.
Over the past 20 years, the population of the Docklands has more than doubled and the area has become both a major business centre and an increasingly acceptable area to live. Transport links have improved significantly, with the Isle of Dogs gaining a tube connection via the Jubilee Line Extension (opened 1999) and the DLR being extended to Beckton, Lewisham, London City Airport, North Woolwich and Stratford. Canary Wharf has become one of Europe's biggest clusters of skyscrapers and a direct challenge to the financial dominance of the City. Further east, the Royal Docks are finally being regenerated most prominently symbolized the ExCeL Exhibition Centre. Although most of the old Dockland wharves and warehouses have been demolished, some have been restored and converted into flats. Most of the docks themselves have survived and are now used as marinas or water sports centre’s (the major exception being the Surrey Commercial Docks, now largely filled in). Although large ships can, and occasionally still do, visit the old docks, all of the commercial traffic has moved down-river to Tilbury. The revival of the Docklands has had major effects in run-down surrounding areas. Greenwich and Deptford are undergoing large-scale redevelopment, chiefly as a result of the improved transport links making them more attractive to commuters. Physical and environmental regeneration has gone on: 2.3 million m2 of new floor space; the brand new Docklands Light Railway; the Jubilee Line extension; Canary Wharf, one of the tallest buildings in Europe; 30,000 new houses. Economic regeneration: from 27,000 jobs in 1981 to 80,000 in 1999; many companies relocated to the area, especially in the finance, retailing, leisure and journalism sectors.
The Docklands' redevelopment has, however, had some less beneficial aspects. The massive property boom and consequent rise in house prices has led to friction between the new arrivals and the old Docklands communities, who have complained of being squeezed out. It has also made for some of the most striking disparities to be seen anywhere in Britain: luxury executive flats constructed alongside run-down public housing estates. The Docklands' status as a symbol of Thatcher's Britain has also made it a target for terrorists. After a failed attempt to bomb Canary Wharf, on February 09, 1996, a large IRA bomb exploded at South Quay. Two people died in the explosion, forty people were injured and an estimated £150m of damage was caused. DDC was controversial - it was accused of favouring elitist luxury developments rather than affordable housing, and it was unpopular with the local communities, who felt that their needs were not being addressed. Nonetheless, the LDDC was central to a remarkable transformation in the area, although how far it was in control of events is debatable. It was wound up in 1998 when control of the Docklands area was handed back to the respective local authorities.
In my opinion overall the docklands regeneration has been a success. Economically the area has improved; a lot of private investment has been attracted into the area. For the £3,900 million spent on the Docklands with public money, a total of around £8,700 million has become injected into the area from private funds. This is a very good thing, as companies are realising that the Docklands has a good future, and are prepared to invest heavily into the area. Another attractive is that the infrastructure has been laid by the LDDC, all costs accounted for. This has meant that the development of the Docklands can continue without the investment of public money. More jobs are been created all the while, and people are moving back. People are realising that the area has a future. The economic aspect of the regeneration should be branded as a success. With more pubs, restaurants, and services locating in the area, people can see a future in the Docklands. Better houses have been made available, and it is a place that the public want to live in. Urbanisation is staring to happen, and new housing blocks are quickly been filled. A success for sure, as people are moving back into the area realising it has more to offer. Before the LDDC took over the area looked ugly and run down, but now has been transformed. The LDDC received a total of 43 awards for architecture and conservation. Land prices within the Docklands also suggest success, before development land was available at a relatively cheap price. Now a one-hectare plot is worth over £2 million. In all aspects, the Docklands have been a success. From a run down inner city, it is now a city within a city. Docklands is a modern hidden community, which once was only run down land. With careful planning and consideration it has become transformed into what it is today. Nevertheless, as with all successes there are a few failures. Contained on London Docks, are the warehouses of the Tobacco Dock. This was redeveloped into a shopping centre, but with poor custom had to close. This was through the lack of planning, but lessons were learnt. With the Docklands having been significantly regenerated, in 1998 the LDDC finished its work in the Docklands. However, redevelopment continues to carry on the good work that the LDDC did.