Thames Water has donated 2.5 acres of property in a bit to help a new property-focused crowdfunding website raise thousands of pounds to transform a neglected London dock into a creative hub ahead of the Olympics.
An east London charity is aiming to open the dock, located between Canary Wharf and the Olympic Park, before the games start this summer.
So far Gasworks Dock Partnership has raised £56,000, but is calling on the business and the public to help raise the remaining £83,000 through Spacehive.com. The plan is to create an enterprise and arts hub, including an array of studio spaces, museum, gardens and moorings for 50 boats.
It will also enable people to walk for 26 miles from Hertfordshire to the Thames thanks to a new swing bridge. This will mean users of the new cable car will be able to cycle direct to the Olympic Park – rather than be left high and dry when they alight at Royal Docks, with no direct route to the park and no ability to take bikes on the DLR.
Cody Dock on the River Lea, is a former gasworks and has been sealed off for decades. Despite promises by Boris (see par 5: http://www.backboris2012.com/9pointplan/olympiclegacy ) and the billions spent elsewhere around the Olympics, nothing has been done to help revive the London’s second river.
Andrew Teacher, policy director at Spacehive.com, said: “Crowd-funding is an open goal for developers and other firms who want to be more in touch with their communities. At a time when council funding is pretty non-existent, this is a vital new funding stream that developers and architects can tap into to help create vibrant public spaces that ultimately up the value of everything around them.”
Celebrity backers include singer and activist Billy Bragg and actor David Suchet. Vodafone last week backed Cody Dock, listing it top of their UK charities (see: http://worldofdifference.vodafone.co.uk/news/archives/tag/cody-dock).
The land donated by Thames Water has an estimated development value of around £10m. It is currently worth over £750,000 in its current state. Full planning permission has been granted for the site and there are no contamination issues that need to be dealth with.
Yvette De Garis, Thames Water’s environment and quality strategy manager, said:
"The River Thames is at the heart of our operation. We are dedicated to enhancing the people's experience of the river and opening it up to the public.
“We think the improvements to Cody Dock are a fantastic solution for the site and we're very happy to support this community led project."
James Lazarus, head of property at British Waterways, said:
“It is great to see Cody Dock coming back into use. It is a wonderful sign of the way that The Waterways are helping to bring the Lower Lea Valley back to life.”
