[interestrateripoff]

http://www.thestar.c...ulled_1_3499773

Quote

Residents living in 200 Sheffield homes will have to remain in houses previously earmarked for demolition for at least another five years - after the Government pulled funding needed to rebuild the estate.

The admission was made by officials at a public meeting organised by Arbourthorne Tenants’ and Residents’ Association for people living in the area’s remaining flat-roofed ‘5M’ council houses at Arbourthorne Fields, off East Bank Road.

Some 200 of the properties have already been knocked down and work is due to start next month on replacing them with new elderly people’s accommodation and a medical centre, a project which has necessary funding to go ahead.

But the same number of properties are still standing and remain occupied - with Sheffield Council needing £12.5 million to refurbish them or £18m for them to be rebuilt completely. The second option is favoured by the council due to the properties’ poor structural condition.

Funding for the remaining area of Arbourthorne Fields had been promised through the Government’s Housing Market Renewal scheme but the project, which aimed to regenerate rundown neighbourhoods across the country, has been axed.

Once more the cuts are aimed at the lower income levels, the housing stock clearly needs replacing and spending money on this would be a good infrastructure investment. Still giving money to the bankers is a better investment as they generate real wealth driving the economy forward.

[FTBagain]

interestrateripoff, on 21 June 2011 - 03:42 PM, said:

http://www.thestar.c...ulled_1_3499773



Once more the cuts are aimed at the lower income levels, the housing stock clearly needs replacing and spending money on this would be a good infrastructure investment. Still giving money to the bankers is a better investment as they generate real wealth driving the economy forward.

Yup, more social justice... What people just take it, why?

[Laughing Gnome]

interestrateripoff, on 21 June 2011 - 03:42 PM, said:

http://www.thestar.c...ulled_1_3499773



Once more the cuts are aimed at the lower income levels, the housing stock clearly needs replacing and spending money on this would be a good infrastructure investment. Still giving money to the bankers is a better investment as they generate real wealth driving the economy forward.

+1

[RufflesTheGuineaPig]

interestrateripoff, on 21 June 2011 - 03:42 PM, said:

But the same number of properties are still standing and remain occupied - with Sheffield Council needing £12.5 million to refurbish them or £18m for them to be rebuilt completely.

Those will be nice houses... £90,000 a piece.

Given that the build cost (excluding land) of the average new build is £24,000 a unit at the moment.

Or perhaps it's that the developers have a huge profit margin built in. About £10m