PLANS to build 121 homes, retail units and a nine screen cinema on Walthamstow's Arcade Site have been approved.

The site, on the corner of Hoe Street and High Street, has been derelict for nearly a decade following repeated failed attempts to develop the land.

Waltham Forest Council's planning committee rubber stamped the proposals at a meeting last night.

Islington and Shoreditch Housing Association (ISHA) is leading the project, while independent chain Empire has signed a deal to run the cinema.

It is thought building work will begin at the end of March.