|Earls Court "Community Benefits" Plan Agreed|
Council says another milestone reached in redevelopment
Hammersmith and Fulham Council says another major milestone in the £8billion redevelopment of Earls Court was reached yesterday, November 14 as an agreement on a £452million package of benefits for the area was signed.
Hammersmith & Fulham Council, the Royal Borough of Kensington and Chelsea, Transport for London and scheme developer Capital & Counties Properties Plc (Capco) all agreed the package of community benefits, which is known as a 106 agreement.
As part of the agreement Capco has agreed that a new primary school, a new leisure centre, new health facilities and community and cultural spaces will all be built as the approved scheme is developed.
37 acres of green open space will be provided, including a new five acre park and there will also be significant improvements to the transport infrastructure including increased capacity at Earls Court, West Kensington and West Brompton Underground stations.
Details of the community benefit package include:
Gary Yardley, Investment Director at Capco, said: "The conclusion of these negotiations adds further momentum to the Earls Court project and we are pleased to have agreed this package of benefits for the local community. The value of this contribution represents the scale of the project and brings to life the very real benefits that this development will bring to west London.
" We look forward to working with the local community to deliver the Earls Court Masterplan which will create 7,500 new homes and 12,000 new jobs."
Cllr Nicholas Botterill, Leader of H&F Council said: "The redevelopment of Earls Court and West Kensington will usher in a new era of prosperity and opportunity on a scale that has never been seen before in West London.
“We have said, from the very outset, that we would only include the estates if people living on them substantially benefit from redevelopment, followed by the wider area.
“This agreement can leave estate residents in no doubt that they will be the major beneficiaries of the scheme, not only gaining brand new homes, but also reaping the rewards of the huge raft of community improvements that will help them to make a success of their lives.”
The council says the redevelopment of Earls Court will provide new homes for people living on West Kensington and Gibbs Green estates, which is part of the 77-acre site, with the first residents expected to move into new homes by 2018.
People on the estates however, are fighting the plans which will see their current homes demolished, along with Earl's Court Exhibition Centre.
November 15, 2013