sjac wrote:Gavin Smith wrote:Viability is based on forecast and models, so while there will be a fair amount of substance, it's obviously predicated on moving targets so difficult predict with certainty...Unfortunately, terms like "viability" are too often bandied about without any substance to them...
sjac wrote:Offhand I can't think of any examples in Southwark of luxury developments and new housing for ordinary folk springing up alongside each other, the latter financed by the former. Can you? Happy to be proved wrong.And odds are that Southwark Council probably owns the site next door anyway, so can just build there.
sjac wrote:Hmm.Pretty weak contribution Jazzy - a grauniad article written by an anti-development, anti-everything miserablist...
JazzyQ wrote:Well, well. Jenkins the old miserablist certainly got us all talking to one another. Love our differing views.
Maybe not such a "weak post" after all??
Sandgrown Dave wrote:No, in this context "Viability" is artful dodging by the developers.
Sandgrown Dave wrote:Offhand I can't think of any examples in Southwark of luxury developments and new housing for ordinary folk springing up alongside each other, the latter financed by the former. Can you? Happy to be proved wrong.
JazzyQ wrote:I was pleased to see that Southwark was not on that list, and I hope it never is.
I agree that privacy is to be respected, but details must be given to HMRC and law enforcement, and the sorry mess of corruption, money laundering, gold bricks and all the rest of it dealt with.
Did you see the video when the Panama Papers information first came out? It was about the hidden victims of corruption, some of them children. Dirty money is at the bottom of this stinking mess.
sjac wrote:It's important to note that things like uses, massing, density, and social mix all form part of initial plans and pre-application discussions with the council, and truly shape the development proposals. If finance truly trumped them all, I'm sure a way could be found to stick on several extra floors and additional footprint to increase value and thus increase the available affordable housing provision.
There's also one element that is almost always forgotten: time. The longer the process takes (due to things like council delays, revised applications, and judicial reviews), the more the returns on initial investment are stretched.
sjac wrote:Well, speaking for myself, I'd rather my money wasn't used in unethical and socially destructive ways and I'd be content to see a slightly smaller return if that was the price to be paid. Sadly, the way that capitalism is currently organised, my opinion isn't sought.Developer returns need to meet ... shareholder expectations (and don't forget, the biggest investors in these large developers are pension funds and insurers, so it's your money they're trying to grow/protect!).
sjac wrote:Not if, as I believe, the subsequent viability adjustment is part of the plan from the outset. Anyway I wouldn't like to see these developments being subject to even less scrutiny than now.If the approval process could be streamlined, I'd expect that there would be an noticeable reduction in these subsequent viability adjustments.
sjac wrote:Ah, you got me there. I should have framed my question more carefully. Whilst it's in Southwark, the social housing at One Tower Bridge is City of London, not Southwark Council. Any others?Sandgrown Dave wrote:The One Tower Bridge development is the obvious example.Offhand I can't think of any examples in Southwark of luxury developments and new housing for ordinary folk springing up alongside each other, the latter financed by the former. Can you? Happy to be proved wrong.
sjac wrote:Agreed, for me a major part of SE1's appeal is that there is (despite everything) quite a mixture here. However I honestly don't think there's much danger of the needs of the fairly prosperous being ignored."ordinary folk" include the hundreds of thousands of City workers who make a very good wage compared to the national average (and can maybe squeeze to afford a small flat in SE1), but are far from rich. This is a very big part of the SE1 community - let's not ignore their needs.
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