It's a joke, 140M probably isn't enough to knock the old stuff down. I bet they phase it to knock down now most first before building anything and when the next recession hits they'll come out with there's no more money to build, move some place else - thus freeing up the land for private enterprise.
Think of the compulsory purchase order's as you can be sure they ain't all social housing as didn't Maggie, a fellow conservative prime minister sell them all their squalor? now they take it back.
STOP. Listen. Can hear Alf Garnett grumbling about his new flat?