Dome’s future decided
The Deputy Prime Minister has confirmed plans for the long term future of the Dome and the Greenwich peninsula.
Since the closure of the Dome in 2000, taxpayers have had to pay out more than £30 million just to maintain the site.
It is hoped that this expenditure will now cease when work begins to turn it into an entertainment and sports arena to seat up to 20,000 people.
Planning permission for the site was granted in February this year, but as of Friday the contracts are officially signed.
It will be built by private company Anschutz Entertainment Group and is scheduled to be completed by spring 2007.
The company’s chief executive, Timothy J. Leiweke, said: “With our promise to create this world class destination goes our pledge to join the bid to secure the 2012 Olympics for London.”
In the main Greenwich area 10,000 new homes, 3,800 them designated affordable, are to be built along with local facilties such as schools.
Margaret Ford, chairman of regeneration organisation English Partnerships, said: “This agreement is good news for the taxpayer, bringing a substantial return back to the public purse, is fantastic news for Greenwich with the creation of a vibrant new urban quarter, and will be a huge boost for the London Olympic bid. It also establishes the future of the Dome as a world class leisure attraction for many years to come.”
Minister for London, Keith Hill, said that the deal is “a major milestone in the history of the capital’s regeneration.”
“£4 billion worth of private sector investment, including a £550 million cash return over the next 20 years will bring new jobs, new homes, new services and infrastructure to London. Every £1 of public money on the Peninsula has attracted over £6 from the private sector.”
However, Liberal Democrat local government spokesman, Edward Davey said the deal highlighted the “incompetence” behind the entire Dome project.
Mr Davey said: “Millions of pounds have been wasted on years of delay.
“These plans may claw back some of the cash, but the cost of Labour’s incompetence has been huge.”
