Town centre development has always been
crucial to growth and prosperity of the surrounding
areas. Ilford, with a current resident and visitor population
of over ¾ million will be renewed and regenerated through the Unity
Square development.
- The scheme will bring new transport systems,
high quality housing and new retail and leisure facilities.
This will provide the impetus for wealth creation and
prosperity for all of Redbridge.
We are also focusing resources on other town
centres such as Gants Hill to provide thriving and attractive
district centres where people want to shop, work, live and
invest.
In 2006, the Council secured a Government
grant of £6.6 million for physical regeneration in the borough’s
town centres. This proposal represents part of the council’s
contribution to the Unity Square development and will be
used to:
- Relocate an electricity sub station,
improve road access
- Acquire some additional land in
preparation for the development
- Cover the capital value and loss of income
from the Town Hall car park
-
Cover the opportunity costs, transaction costs, and risks, of a
capital scheme on this very large scale
- Provide subsidy to the Kenneth More
Theatre.
Consequences
- Promoting and linking market forces to target growth and
deprived areas and communities
- Preventing decline of places at risk of decay -
and regenerating round run down places and communities
- Improving overall quality of life and sustainable development,
including better environmental management
- Increasing the opportunities for disadvantaged people and
communities and those facing discrimination and social
exclusion.
Risks/Constraints
- Decline of physical, social and economic well-being of our
metropolitan and district town centres
- Inability to meet local, regional and national Government
targets for housing, deprivation and economic
growth
- Loss of opportunities for residents, businesses and workers and
visitors to enjoy a high quality of life in Redbridge
- Wasted investment by the Council to date in establishing
framework for growth
- Loss of attractiveness in relation to neighbouring and
competing town centres
- Loss of opportunities in relation to major regeneration
opportunities such as the Olympics, Crossrail, East London Transit
and the current housing market.
Background information