The developers behind The Shard in London are planning to build a 27-storey, luxury residential tower next to the iconic skyscraper. It will house 150 high-end apartments.

The new apartment building will be designed by Shard architect Renzo Piano. It will include a total of 160,000 square feet of residential space and will also feature retail space.

The latest planned addition to the capital’s increasingly high-reaching skyline, the new building is set to be located just west of the Shard and south of the Place, on London’s Fielden House site.

The Shard skyscraper was awarded the title of 2013 Best Tall Building Europe by the Council on Tall Buildings and Urban Habitat this week.