The logic of moving the Watermans away from the water was that the premium that would be paid for riverside flats made it more likely that it would be possible to fund the arts centre as part of the deal. In all the whisperings I have heard about this project over the last year, there has been an insinuation that the 'developer' was chiselling over the proportion of affordable units on the grounds of viability. However, it now appears that the developer being referred to was Peabody and not LGL. What has become unviable is there ability as a Housing Association to take on board the affordable units at the Half Acre site. This seems to be a London-wide problem brought on by legislation designed to protect tenants which is raising the cost for them to take on units to manage. Therefore, I don't think it is helpful to use words such as 'deluded' and 'uncertifiable'. The good news is that if it is simply a matter of replacing the affordable housing provider this project may be back on track soon. Alex is right about the Ealing Project failure being a concern but I think Arts Centres include cinemas because the internally generated revenue can be matched with new grant funding so it doesn't actually need to be profitable.

Entire Thread

Topic	Date Posted	Posted By
Waterman’s	04/10/24 16:55:00	Simon Hayes
Re:Waterman’s	04/10/24 17:10:00	Kenneth Seally
Re:Re:Waterman’s	04/10/24 18:12:00	Joanne Sky
Re:Re:Re:Waterman’s	04/10/24 18:31:00	Vanessa Smith
Re:Re:Re:Re:Waterman’s	04/10/24 19:16:00	Simon Hayes
Re:Waterman’s	07/10/24 16:48:00	Chris Dakers
Re:Re:Waterman’s	07/10/24 17:52:00	Guy Lambert
Re:Waterman’s	11/10/24 11:49:00	Alex Marshall
Re:Re:Waterman’s	17/10/24 22:41:00	Raymond Havelock
Re:Re:Re:Waterman’s	18/10/24 10:34:00	Kenneth Seally

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