Article by Aditya Chakrabortty in today's Guardian (19/08/21)
Too late, I fear, for Brentford, but it just shows what can be done. 'Most city-dwellers know all too well what the busted model looks like, so let me sketch it only briefly. A big developer takes over a tract of rundown public land, usually aided by a nice slug of taxpayer money. They swear solemnly to give back to the public realm, typically providing a sliver of “affordable” homes, before sometimes rowing back on even those small promises because they are “not viable” – which means they would eat too far into their profit margins. By then, the developers have local politicians and officials over a barrel. The result is shoebox apartments sold at eyewatering prices (to say nothing of the cladding bills yet to arrive). The big winners are the developers, the big losers are locals who aren’t owner-occupiers, and the greatest work is done by the passive magic of rising land values.'https://www.theguardian.com/commentisfree/2021/aug/19/tottenham-community-latin-village-new-way-to-regenerate
Tracie Dudley Craig ● 978d6 Comments