underclassrising.net knew some time ago that MILLIONS of pounds of Government money (that's tax payers cash to me and you) is being used to bail out the developer of Sheffield's troubled City Lofts tower to ensure the scheme is completed, we can now reveal. Regional development agency Yorkshire Forward decided to provide the funding - to prevent the 32-storey development from being left as an unfinished concrete skeleton towering into the skyline.
The money is in the form of a loan but will only be repaid if City Lofts' backer, nationalised German bank Hypo Real Estate, makes a profit from the development, which is viewed as unlikely.
Now due to libel laws, all right we could have said it is alleged, but we kept our mouths shut but it is now in the local news and as Coun Bernard Little, who represents Central ward for the Green Party, said:
"It's a monstrous and very expensive building that the city centre didn't need”
We could not agree more this folly of foolishness was given the green light under the former Labour Party administration, the very people that took this city to near bankruptcy in there disagreement with the Thatcher Government, gave us the world student games, that us the tax payers are still paying for, along with Medowhell around this shopping hell stands wastelands of former steel works.
That has seen the city centre become a ghost town, failed swindle following failed scam has blighted the city of Sheffield, in 1991 Tudor Square where The Lyceum Theatre stands and 30 years ago, then owned by a private company. It was run down and seemed to have no future. The owners wanted to demolish it, so they could sell the site to a developer. It is hard to believe now, but the City Council (under Labour) supported demolition. Today the Lyceum Theatre is a focal point in Sheffield, giving pleasure to tens of thousands of people every year and recognised as an important asset for the city. Tudor Square is now under going another refurbishment as part of the Crucible Theatre refurbishment much of the cost been met by public donations, where was Yorkshire Forward with offers of cash for a public space that has given and will continue to give more than the City Lofts tower? Giving public cash to bail out the German bank Hypo Real Estate and the City Lofts tower.
The Lyceum/Crucible Theatre will give the people of Sheffield far more than the City Lofts tower that is us the tax payers who are now paying for private housing, if we had to cash to buy into the utopian dream of city living, in a city where homelessness has increased and social housing decreased, the request for funding we are told it was before the fiasco over the type of cladding used on the tower, which took several months to resolve, need we remind people the façade was changed from the original design because architects claimed it may not withstand high winds at the top of the building. But the developer started installing different panels without planning permission. It was ordered to remove them and create a safe design closer to the original, this happened following the MILLIONS of pounds of Government money was given, erm sorry loaned.
Coun Bernard Little added: "I understand the principle behind completing the building rather than leaving it unfinished. However, I find it outrageous if the council encouraged the developer to push for a larger building than proposed - only to find it struggling to pay for it.
"Questions need to be asked within the Town Hall about who was asking for it to be made bigger."
Coun Jan Wilson, Labour council leader at the time the development was approved, said: "All parties wanted a tall, slender and attractive building in such a prime site.
"City Lofts had proposed a 24-storey tower but I imagine officers would have said that, if they wanted to build it, it should be an iconic development.
Questions always need to be asked within the Town Hall about Yorkshire Forward (the former owners of 111 Matilda Street) given that Sheffield City's council under Labour decision not to put out 111 Matilda Street to public tender and instead to generously accept Sheffield Hallam University's lower offer than the one made by the long term tenant – Adrenaline Studios, and given the subsequent profitable sale of the property to Yorkshire Forward who have tasked Creative Sheffield with the development of the site, (rumours have it the land has been part sold to Sainsburys) Adrenaline Studios are still in occupation of 111 Matilda Street and Yorkshire Forward are now in the process of getting them evicted.
The same Sheffield Hallam University, bought the former National Centre for Popular Music at the knocked down price of 1 Million pounds, more MILLIONS of pounds of Government money was used to build the centre, alleged bad running was the reason for it failing, of course this is alleged it was nothing to do with the brown paper bags going round from desk to desk at the time. Of course it was the workers who were scapegoated for the fuck up of others, across Sheffield if you stand on a still day you will smell the whiff of bullshit the no so faint smell of corruption can be also sniffed out. From one, Burngreave New Deal Communities, there has been years of back handers, hand shakes in toilets as the brown paper bag has been passed on, while you are stood there you will see the tumble weeds roll down the road, as another homeless persons ask for any spare cash, and inside the derelict factory sits a shadow injecting there choice of oblivion, the needles and cans tell the true story of this city and the cost of urban regeneration, as the Police use harassment/intimidation to enforce the public image there are no social problems in Sheffield.
On any given night the Middle Class, often students, are policed to protect them while they defecate on the pavement, keep those who have no choice but to live in the city centre awake, they could ill afford a loft at City Lofts tower and the countless other new build city centre flats. Slowly, West One is becoming the slums that Park Hill became, yes more Yorkshire Forward cash is given to this failed project, instead of the government just simply bailing it out with the full cost of regeneration and giving it back for social housing, more former public homes are given to the private sector. All right, for years of debt you could buy a bit of the utopian dream of city centre living, but for some it has become a dystopia, but lets not forget the night time economy has become more important than the quality of life for those living in the only two remaining social housing projects, that was there long before West One.
The very same Yorkshire Forward who have given public cash for the re pavement of the lower end of the Moor owned by REEF, who also have so it seems being bailed out with pubic cash, meanwhile 1 Million of tax payers monies is being used to demolish the former fire station on Wellington Street to make way for another folly of foolishness that is SEVENSTONE, that will see more of the Sheffield's heritage demolished to make way for private shopping centre that will be the size of Medowhell. Along with the Moor refurbishment, both are on hold as the city of Sheffield becomes a ghost town, the demolished fire station will make way for a car park, just up the road on the former Assay Offices land the building of what we are told is an iconic Car Park is being built and you have guessed it with grants from Yorkshire Forward. So when you stand any where in Sheffield you see the folly of foolishness that is City Lofts tower, remember you have paid towards housing the very middle class parasites we should be making fucking history. Need it be asked why as an anarchist I have nowt but contempt for them, our city is no longer ours, as they are policed to protect them, the same Police come into our projects to use harassment/intimidation to ensure the real public image of urban regeneration is hidden, welcome to Sheffield, it us the working class who are not just funding them, but are no longer welcome to enjoy take part what we have paid for. In time the city will burn, the new lamp post in Burngreave/ The City Centre will be put into proper use we shall be hanging the very middle class parasites we are funding.
