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Lib Dems start consultation on £41 million new look Market Estate, Holloway
March 23, 2004 12:00 AM
Islington's Liberal Democrat councillors have launched a major consultation exercise with residents on the Market Estate in Holloway on proposals by Southern Housing Group to demolish and redevelop the estate with a £41 million scheme for 359 new homes and the regeneration of Caledonian Park. The Market Estate suffers from inherent design weaknesses that have resulted in the estate being a centre of youth activity in the area, poor security and major vandalism and misuse of the estate's lifts, stairwells and communal areas. The new plans by Southern Housing Group will address all these issues with residents. Tenants will now receive a consultation document on the proposals explaining how the rights of tenants will be affected, details of the new landlord, the expected rents and a summary of improvements. If tenants want to proceed to the next stage, the tenants will be balloted in late May with the result announced in June. The planned redevelopment of the Market Estate would take 5 years to complete following a 'yes' vote from secure tenants. Under the proposals, tenants would be offered a rent guarantee by the Council and the same tenancy rights that they currently have. Liberal Democrat councillor Jyoti Vaja, Executive Member for Housing, said: "Plans to redevelop the Market Estate have been on the drawing board for a long time now and we are finally moving forward. "The Liberal Democrat council has stepped in with extra funding to ensure this scheme can go ahead after the Labour government refused to plug the funding gap. "It is only right given what residents on the Market have had to put up with over the years that they now finally get a say on what the estate's future should be. Facts
The council agreed in 2001 to redevelop the Market Estate through a stock transfer to a Registered Social Landlord (RSL). In July 2002, West Area Committee agreed a planning brief involving both Caledonian Park and the Market Estate. In January 2003 residents selected Southern Housing Group as the preferred RSL partner. Islington Council's Executive confirmed the choice of Southern Housing Group as residents' preferred partner in February 2003.
Under the proposed scheme for the Market Estate tenants will only have to move once - directly into their new home - if they wish to remain on the new estate.
Islington Council has ensured that a rent guarantee is in place if the redevelopment of the Market Estate goes ahead.
Islington Council has ensured that tenancy rights will be the same as secure tenants enjoy now if the redevelopment of the Market Estate goes ahead.
There are currently 271 homes on the Market Estate - 238 secure tenants and 18 leaseholders. The balance is made up of empty properties, non-secure tenants and residential caretakers. 359 homes are planned for the new Market Estate when it is redeveloped - 240 will be for rent, 24 for low cost home ownership and 95 will be for sale.
The Labour Government refused to plug a funding gap of £10 million on the Market Estate redevelopment which could have jeopardised the entire scheme. Islington Council stepped in to increase its contribution to the dowry to £8million to ensure the scheme could go ahead.
Secure tenants on the Market Estate will be consulted by formal consultation (February 2004) detailing the offer being made by the Council on behalf of Southern Housing Group. Leaseholders will have their own consultation document.
Tenants will have 28 days to make comments on the plans in the consultation document and the Council will then consider responses. The Council can then make changes to the plans and will then re-consult for another 28 days (late May) setting out any changes to the proposals in light of resident comments.
The ballot of secure tenants will start in late May and last for 3 weeks. The ballot will be carried out by the independent Electoral Reform Ballot Services Organisation. The result will be announced in June 2004 with the transfer to Southern Housing Group scheduled to take place in March 2005. Leaseholders will have their own ballot although the council will not be bound by the outcome.
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