The controversial regeneration plan for Chrisp Street Market was finally passed on July 24, 2018 with the aim of creating

“a thriving town centre – keeping the best of what’s here while providing an improved retail offering; more homes, including more social and affordable; more services and amenities and a greater focus on our heritage.”

The plans were put on hold back in February due to a range of issues and Poplar Harca has published a summary of what is to come.

The Plans

Retail:
•    Refurbishing current shops, building new and providing a larger market with new stalls and a new market canopy.
•    Supporting current traders to remain in the market, with no rent increases for shops during the refurbishment works and for 12 months afterwards.  There will then be stepped increases based on affordability – with concessions available for up to a further 5 years.
•    Encouraging a mix of independent retailers, a new supermarket and some high street   names.

Homes & Amenities:
•    Increase in affordable homes to over 35% by habitable rooms, from 124 to 200 (136 homes at social rent (currently 124), 27 at Tower Hamlets Living rent and 37 shared ownership)
•    Plus 443 private sale which will cross-subsidise the project that includes:
•    New cinema and restaurants
•    Two pocket parks
•    New Sure Start centre
•    New large community hub
•    Extended Idea Store
•    Restored and accessible Festival of Britain clock tower

Chrisp Street Update published by Poplar Harca
https://www.poplarharca.co.uk/sites/default/files/files/ChrispSt%20Update-June2018-v06-Proof-smaller.pdf

Myth buster (from the pdf referenced above):

 

Myth: The market is disappearing
Fact: The market stalls are at the heart of the new scheme. There will be space
for around 90 pitches (and it will continue to be run by the Council.)

Myth: Traders will leave
Fact: We hope not! 50% of long-term shop owners have already signed
agreements that mean they will be here beyond the regen. We’d love the
rest – and those with short term leases – to stay and will work with them to
try to make that happen.

Myth: HARCA hasn’t consulted with the public
Fact: We’ve been consulting with traders, residents and the public for 10
years – we’ll provide a record to the planning committee in July.

Myth: Rents will rise
Fact: Rents will be frozen during the phase of the work that the shop
is in and for a year afterwards. Rent concessions are then
available for up to a further 5 years.

Myth: Chrisp Street is being demolished
Fact: Much of the area will stay including the clock tower and 1950s
architecture. Some shops and housing will be demolished in phases
but everyone can continue to trade throughout (some people might
move around a bit – we’ll keep people posted on who’s where)

Myth: The Post Office is going
Fact: No. We’ve signed a deal to make sure they stay.

Myth: There will be a loss in social housing
Fact: No. We are demolishing 124 social homes and building 136. We’re also adding
new affordable housing to help people get a foot on the ladder. There are no
studios – everything is 1-4 bed, attracting couples and families.

Myth: Lock-ups won’t get like for like units
Fact: Lock ups will be offered temporary space in the market so they can continue
to trade. Once the work is completed they will be offered a new space a
minimum of the size they have now – for the same rent they pay now.

Myth: There will be more pubs and betting shops
Fact: No. There will be space for 2 pubs (as we have now)
and no extra betting shops.

More info can be found at: