Future London Leaders Knowledge Sharing Session 16th March 2011
City Road Basin
Sharon Strutt - Head of Neighbourhood Regeneration, Enfield Julia Williams – Major Sites Manager, Newham
Project Overview • • •
Masterplan for 900 homes, commercial and retail space and new landscaped areas (Adopted 2006) Located in scenic, waterfront location of City Road Basin Place-shaping objectives: – Design led vision for regeneration – High quality, mixed tenure residential development – Create vibrant water-focussed community with cafes and shops and a newly located Boat Club – Improve access around the basin and increased footfall through the site – Create long term economic, social and environmental sustainability
Landowner/Developer interests •
Freeholders are British Waterways and National Grid
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Leaseholder interests and holdings are: – – – – – – –
LBI City Road Basin Ltd Grove World Management Co Fidelity London Electricity Group City Wharf Development Co Islington Boat Club
Situation in 2006 • • • •
Buoyant market, maximum land values Hung constituency at Islington (circa 50% Lib Dems, 50% Labour) Requirement for 35% affordable housing Generous S106 receipts
Situation in 2011 • • • • •
Depressed market, little development activity – delivery needed! Labour led constituency Planning policy seeking 50% affordable housing Development Agreement revised reflecting market conditions. Developers less willing to take risks in the uncertain market, including issues with S106 receipts, CIL, public sector funding
Progress to date •
Private development on Graham Street complete (83 units plus basement building for commercial use)
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28 storey landmark building incorporating 295 units of housing development in construction (due for completion Autumn 2011)
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Grove World Management company established
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New civic space public realm improvements completed at head of the basin.
Constraints • • • • • • •
Large electricity sub-station behind affordable housing block Northern line electrics located beneath one of the key sites Lease restrictions around use of basin waterspace. Restricted access around basin reducing potential visitors Heavily constrained sites are changing hands with developers Stagnating development activity No public sector funding to derisk sites and generate activity
Opportunities •
Meanwhile uses on some of the empty sites
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Collaborative working with Islington to ensure that interest is generated in new commercial and retail units
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Links to existing socio-economic regeneration initiatives in surrounding area
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Build on commercial activity and footfall currently on Wenlock Basin
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Completion of housing will bring new families into the area.
Future of the project • Challenges to overcome • Celebrate milestones • Realise opportunities