Olympic Village... after the games

shine166

Ive been wondering what is likely to happen to the Olympic village after the games. Ive heard a few things from artists living/studio spaces, to accommodation for homeless people.

I was wondering if anyone on here had any info about it ? Its just im looking for a way to be able to afford to move closer to the city and am hoping this may be it.

McLovin

No info, but you'd think that it would be most sensible to either use it for key workers or to recover as much of the costs as possible (i.e. highest bidder).

SE7toSG3

My sister in law worked on this for a company called London Strategic Housing, my understanding is that a fair amount of the properties post games will before Key worker/low income occupants with percetage stake mortgages and the rest from private developers who assisted with funding, that was 18 months or zo ago though so may have changed like a number of other Olympic decisions

BlackForestReds

 

Seems they were sold to the Qatari Royal family for less than the cost to build them:

http://www.guardian.co.uk/sport/2011/aug/12/olympic-village-qatari-ruling-family

Yep, I'm wondering how in a City with a property shortage they have been sold at a loss, but there you go another great use of tax-payer's money.

 

MuttleyCAFC

A short Valley Express journey!

olster

another example of the olympic legacy scam

Stone

it has all the potential to become a Ghetto IMO.

sam3110

It will turn into overpriced apartments that hardly anyone in the area can afford, and most people wouldn't want to move to, like all the new housing in and around deptford.

ShootersHillGuru

It will turn into overpriced apartments that hardly anyone in the area can afford, and most people wouldn't want to move to, like all the new housing in and around deptford.

I can understand your assertion regarding cost around Deptford but not wanting to move to ?

Friend Or Defoe

It will turn into overpriced apartments that hardly anyone in the area can afford, and most people wouldn't want to move to, like all the new housing in and around deptford.

Yeah why would people want to live in secure homes near one of the best transport hubs in the country?

CrayAddick

Filming the new only fools and horses there.

Floyd Montana

 

Seems they were sold to the Qatari Royal family for less than the cost to build them:

http://www.guardian.co.uk/sport/2011/aug/12/olympic-village-qatari-ruling-family

Yep, I'm wondering how in a City with a property shortage they have been sold at a loss, but there you go another great use of tax-payer's money.

 

I'm not sure thats what the article you quote is saying.
This is focussing on one tiny part of the overall development and Olympic housing Legacy.

If something doesnt make sense its possibly because a journalist hasnt seen the bigger picture.
Perhaps the buildings themselves have been sold for less than they, plus the infrastructure required, (roads, utilities, clearance of contaminated land etc) cost?

Tax payers money has ensured that 35% of the thousands of new houses (not just the village) will be affordable housing, no matter who owns them.

Still its another thing we can all moan about.
There was a moaning epidemic at the shops I mistakenly popped into before Christmas  - not a sign of joy to the world!

From the Olympic Park Legacy website.....

Five new neighbourhoods will be established around the Park, each
with its own distinct character. Some residents will live in modern
squares and terraces, others will enjoy riverside living, with front
doors and gardens opening on to water. With the right mix of apartments
and houses, located close to the facilities communities need to develop
and grow, the Park will have the foundations to become a prosperous,
vibrant new piece of city.

• Up to 11,000 new homes
• 35% affordable housing
• 40% family homes

     

“London is sorely missing family home developments. Coupled with the
right social infrastructure, the plans provide the ingredients to help
make successful neighbourhoods that will become attractive and inviting
places to live.”

June Barnes, Chief Executive, East Thames Housing Group

sam3110

It will turn into overpriced apartments that hardly anyone in the area can afford, and most people wouldn't want to move to, like all the new housing in and around deptford.

Yeah why would people want to live in secure homes near one of the best transport hubs in the country?

East London is hardly an attractive location is it? And chances are they will massively overprice them because of the Olympics, Some of the apartments in Deptford are about 300k, and as such have been left empty for the past 18 months

Friend Or Defoe

It will turn into overpriced apartments that hardly anyone in the area can afford, and most people wouldn't want to move to, like all the new housing in and around deptford.

Yeah why would people want to live in secure homes near one of the best transport hubs in the country?

East London is hardly an attractive location is it? And chances are they will massively overprice them because of the Olympics, Some of the apartments in Deptford are about 300k, and as such have been left empty for the past 18 months

Deptford is different, where do you mean, the tower by the DLR station? Stratford has great transport links so you could just sleep there and "live" in another part of London. Also that new Westfield centre isn't designed for the locals.

sam3110

Creek Road are the most preposterous, some of the higher apartments are over half a million.

I understand the great transport links, and I actually work in Westfield Stratford, but I just feel that it will turn into yet another development that is overpriced and therefore under-populated. I hope I am wrong, as yet another white elephant is not what this country needs!

Off_it

I did some work for a property developer about 6 or 7 years ago who was developing an old mill building in Deptford (if you know the area you'll know which one).

They turned the top floor into a penthouse and were asking north of £1million for it back then - and this was 6/7 years ago. Mind you, they weren't exactly knocked off their feet by takers at the time. 

I was talking to one of the senior guys there and he couldn't understand why it wasn't selling, so I told him - it's over £1million, it overlooks Deptford creek which bloody stinks for half the day when the tide's out and it's in Deptford!

DRF

Creek Road are the most preposterous, some of the higher apartments are over half a million.

I understand the great transport links, and I actually work in Westfield Stratford, but I just feel that it will turn into yet another development that is overpriced and therefore under-populated. I hope I am wrong, as yet another white elephant is not what this country needs!

I'm not quite sure where all these under-populated parts of London are...?

stop_shouting

You know exactly what will happen, they'll load it up with low income families and within a year it'll be crime and gang ridden. I can just see the headline in the Sunday Mirror "Olympic Boyz are the real legacy of London 12"!

DRF

Quite - look at some of the areas of Milton Keynes, and othe rnew towns, the problems just moved with them. Its not buildings that make an area good or bad its the people in them.

Leroy Ambrose

I did some work for a property developer about 6 or 7 years ago who was developing an old mill building in Deptford (if you know the area you'll know which one).

They turned the top floor into a penthouse and were asking north of £1million for it back then - and this was 6/7 years ago. Mind you, they weren't exactly knocked off their feet by takers at the time. 

I was talking to one of the senior guys there and he couldn't understand why it wasn't selling, so I told him - it's over £1million, it overlooks Deptford creek which bloody stinks for half the day when the tide's out and it's in Deptford!

Thing is, the lunacy is starting to rub off on the locals. Every time I see my Mum she keeps banging on about how Deptford is becoming gentrified, and is now a 'yuppie' place (and yes, she still uses that word - it's like that episode of OFaH where Del visits Docklands - only 25 years later and less realistic). I haven't the heart to tell her that all these idiots putting their crummily built houses on shitheap council estates on the market for £250k a pop are missing the point a bit - 'yuppies' wouldn't live in them if they were plated in gold, as they're not particularly fond of being mugged, sliding through dogshit, stepping over smackheads and having the windows on their DB9s put through on a frequent basis.

Having spent the first 20 years of my life escaping it's gravitational pull, I am better placed than most on here to state that Deptford always was, is, and always will be an abject shithole of a place.

Stone

You know exactly what will happen, they'll load it up with low income families and within a year it'll be crime and gang ridden. I can just see the headline in the Sunday Mirror "Olympic Boyz are the real legacy of London 12"!

That's the key paragraph. "1,379 already sold, they will become 'affordable housing' such as shared ownership or socially rented appartments."

stop_shouting

I did some work for a property developer about 6 or 7 years ago who was developing an old mill building in Deptford (if you know the area you'll know which one).

They turned the top floor into a penthouse and were asking north of £1million for it back then - and this was 6/7 years ago. Mind you, they weren't exactly knocked off their feet by takers at the time. 

I was talking to one of the senior guys there and he couldn't understand why it wasn't selling, so I told him - it's over £1million, it overlooks Deptford creek which bloody stinks for half the day when the tide's out and it's in Deptford!

Thing is, the lunacy is starting to rub off on the locals. Every time I see my Mum she keeps banging on about how Deptford is becoming gentrified, and is now a 'yuppie' place (and yes, she still uses that word - it's like that episode of OFaH where Del visits Docklands - only 25 years later and less realistic). I haven't the heart to tell her that all these idiots putting their crummily built houses on shitheap council estates on the market for £250k a pop are missing the point a bit - 'yuppies' wouldn't live in them if they were plated in gold, as they're not particularly fond of being mugged, sliding through dogshit, stepping over smackheads and having the windows on their DB9s put through on a frequent basis.

Having spent the first 20 years of my life escaping it's gravitational pull, I am better placed than most on here to state that Deptford always was, is, and always will be an abject shithole of a place.

It's got the Dog and Bell though Leroy

Leroy Ambrose

Meh. Overrated.