Plans in the early 2000s to redevelop the Elephant and Castle included turning the roundabout into a peninsula and moving the Michael Faraday Memorial 400 metres south-east to the Walworth Road, where it would stand next to the Cuming Museum and possibly become part of a proposed science museum. These plans were shelved as the regeneration of Elephant and Castle evolved into a scheme that retained the roundabout, before changing into a scheme that retained the memorial in its current position by "peninsulaising" it, in the process making it easier to access.