What are some of the issues that we are facing?
The “Credit Crunch” has obviously had an effect on the Thames Gateway (TG). As has
happened across the country, house building in the TG has ground to a virtual halt,
with buildings under construction being slowly finished but few new starts planned
for 2009. However with the slowdown also comes opportunity. Those who are in for
the long term have always seen it as a 25-30 year project, although 30-40 years are
now being mentioned. Sensible developers have built a couple of recessions into their
business models. The current recession gives the opportunity for some more careful
planning and also the chance to aquire assets and for land assembly, at a reasonable
cost, so that better development could be possible in the medium term.
Whilst house building has slowed, there has been no reason to slow down any developments
that were not due for completion for at least 2-3 years as long as the expectation
is that the recession will not last longer than that. Developments that are linked
to the 2012 Olympics, like Basildon Sporting Village, continue apace as do medium
term developments such as the London Gateway Port (starting building in 2009), the
new Southend United development (scheduled completion 2010) and the redevelopment
of Southend Airport. The Regional Strategy Review of Lakeside is not due for completion
until 2010 and so that continues. The test may come later in 2009 if the recession
shows no sign of ending.
Of more concern may be questions about sustainable living. All house building is
supposed to be virtually carbon neutral by 2016 but there are issues as to whether
this is achievable. Is that standard technically achievable and, even if it is, can
we build to it at the volumes planned and at a viable cost?
- 4 Key Projects that are under way - click here for details
- What effect will the new Homes & Community Agency (HCA) taking over responsibility
for the Thames Gateway have? - click here for details
- DCLG still has a Thames Gateway Strategy Unit. How will this relate to HCA? - click
here to find out more
- What is happening to house building in the current credit crunch - click here for
details
- What does the Thames Gateway becoming an eco-region mean? - click here to find out
- What would an eco-quarter look like - click here for details
- What is the Thames Gateway Parklands Vision? - click here