The project, which is expected to be the world renowned architect’s first permanent building to be completed in England, will include a 1,100 sq m gallery and exhibition space, with a further 1,000 sq m of residential space at a site on Hoxton Square.
The building has been commissioned and funded by US art dealer Kenny Schacter and developed with planning and design consultancy Turley Associates.
Mr Schachter said: “I have visited many buildings by Zaha Hadid in cities in America, Germany, Austria, Italy, Switzerland and large scale exhibits in many more. Strangely after more then 35 years of living and working in London she does not have a single structure.
“A Hadid building in Hoxton Square would be a tremendous boost to the area creating jobs as well as a new international point of interest on the map for architecture lovers.”