Since the iconic building was destroyed, the conundrum of what to do with the crumbling site has not been successfully resolved.
Today's announcement marks an exciting new chapter for Crystal Palace Park. This is a vision that could not only see a world-class landmark building reinstated, of the quality of the original, but the restoration of the entire surrounding park, bringing jobs and growth.
Together with Bromley council and taking account of the views of local people and leading experts, we'll now be working closely with ZhongRong Group to progress these plans in more detail.
More top news
Storm Imogen - when and where we will see the strongest winds? ITV Weather's Manali Lukha gives the breakdown.
Mosques including the East London Mosque in Whitechapel open their doors in 'Visit My Mosque' initiative.
The ISIS execution gang fronted by 'Jihadi John' had two British extremists who learned radical Islam together in London, ITV News reveals.