Connecting Crouch End and Hornsey with news, views and information

Arts and Community badly served / unsustainable #HTHbaddeal

The Hornsey Town Hall Appreciation Society Appreciation Society has had a lot of comment in response to its posting "Planning Update – No Social Housing…But Big Money On The Table". The comments are at the foot of the page.

Take this one for example from Richard Downes:

Arts and community badly served by these proposals. Some of us had high hopes for how the building ould be conserved to serve crouch enders. dosent look likeits happening

And Richard probably hadn't seen that FEC are expecting a huge sum in rent each year from the Arts Operator, which by my calculations comes out at £187,198  (£5.50 per sq ft by 34,036 square feet). How is an arts operator to generate that sort of profit in a relatively quiet town centre, with no trains, no underground and no parking? And then FEC has the nerve to say that represents a huge subsidy - on a project they've known all along would include an Arts Centre - and calculated that this represents a loss to them of £4.9m, thereby further reducing the already understated profit on the deal. Is Hornsey Town Hall really comparable to Koko in Camden?

Tags: dorsett, far east consortium, hornsey town hall, ojeu, planning application, tax haven

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