I've put off writing this post because even if the deadline came and went Monday evening it is still a little unclear what is exactly is going to happen:
From LondonSE1: Elephant and Castle Deal 'excellent value for money' says Southwark leader.
Southwark Council's executive agreed to a 'heads of term' agreement with developers Lend Lease, which means at least a part of the Elephant development will go through. However, questions remain. Also from London SE1:
Call for Greater Transparency over Elephant and Castle Regeneration Deal
The development would be in six phases. Phase 1 to 5 involve the Heygate, phase 6 the shopping centre. However no timetable has been set for the latter. Demolition would begin on eastern end of the estate, down by Rodney Road (which if memory serves is off the main section of the estate) in February.
It seems that Lend Lease's investment in the 1.5 billion project is small: Lend Lease wins London bid, shares jump. Though a Lend Lease spokesman later reiterated that Lend Lease is responsible for all six phases of the development, and as such is responsible for investment.
The reaction on the SE1 forum remains skeptical, as few details of the plan and what it will mean for the Elephant and Elephant residents are being released:
Lib-Dem Councillor Tim McNally writes:
"I look forward to the bulldozers going onsite in February 2010 to start the demolition, and will welcome the creation of additional new homes of all tenures - including social for rent in excess of that in the current Heygate, shared ownership and private - in what will surely be the revitalised centre of South East London"To which, one forum member responded:
"All the planned regeneration is going to do is to replace a load of architecturally ambitious post-war social housing slums with some bland early 21st century private rabbit hutch slums."