The cultural destination, which opened in 1982, and is the home of the London Symphony Orchestra (LSO), has deteriorated "significantly" over the years. Plans to revamp creative and performance spaces as well as restore the brutalist foyers, Lakeside Terrace and Conservatory, have been given approval by the City of London Corporation which is funding 80% of the work. Construction is expected to begin in 2027, with the first phase finished by 2030.