According to this over at the BBC website, there are plans to turn Bloomsbury back into the cultured, intellectual village it once was, and which some people who haven't visited believe it still is. Traffic will be limited around the British Museum and University College London, a number of squares will be pedestrianised and Tavistock Square will become "London's Peace Garden". (I might be wrong, but I thought TS was already known as "the peace park" - because of the Ghandi statue... although recent events have added a strange and unpleasant irony.)