Stratford in east London, near the Olympic park, has undergone a massive investment drive to pretty it up in time for the Games, and now boasts Europe‘s largest shopping center. But the regeneration of one of Britain’s poorest areas threatens to leave long-time residents out in the cold.
The true cost of the Olympics is not yet known but working on the basis of extra troops, accommodation for extra people and those little extras you just have to add! We will be looking at a bill to the taxpayer of say upward of £18 billion with the original estimate of £2.9 billion! All that aside when it is all over and the last flame has been extinguished what will they do with all that costly building works! Will they reward the area with low-cost housing! NO! This is their plan for the future of the Olympic village!
Thousands of new apartments were built for the Olympic village and next year there will be 2,800 flats for sale. But with entry-level prices of 250,000 pounds ($388,000) for a three-room apartment on High Street, they are un-affordable for the vast majority of people in Newham.
Provide the rich with affordable houses built especially for them! Interesting to see what rental charges will be made by the purchasers!
- Landlords ‘evicting tenants to make money of Olympics’ (simplelandlordsinsurance.com)
- London 2012 Olympics: Forty protest groups to target “corporate dominance” of Olympics (standard.co.uk)