The refurbishment costs for the Golden Lane Estate, a Grade II-listed site in London, skyrocketed from an initial estimate of £29 million to over £105 million, creating discontent among residents. The City of London Corporation attributed the significant increase to a decision to expedite repairs over a 10-year period rather than a 20-year period in response to community feedback. Residents, who have long pushed for upgrades, are now concerned about financial implications amidst ongoing issues like damp and mould, heightening frustrations with the landlord's lack of communication regarding the project.
Sue Pearson, chair of the Golden Lane Estate Residents' Association, expressed disappointment over the lack of communication from the City of London Corporation regarding the sharp increase in refurbishment costs.
A spokesperson for the City of London Corporation noted that the soaring costs were due to the decision to complete improvements over ten years instead of twenty, which was made in direct response to resident feedback.
The City of London Corporation's 10-year Housing Investment Programme reveals that of the £205 million allocated, £105 million is designated for refurbishing the Golden Lane Estate, far surpassing initial estimates.
Residents of the Golden Lane Estate have shown persistent concern about the potential financial burden of the refurbishment costs, particularly regarding ongoing issues like damp and mould.
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