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The social costs and benefits of business activity- Paddington Basin Regeneration Project.

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Introduction

Unit 21 The social costs and benefits of business activity - Paddington Basin Regeneration Project - Mohammed Abu Saleh 13AG3 Social costs and benefits of business activity Contents: Introduction 3 Stakeholders 5 Environmental costs and benefits 10 Pressure groups and local community protest groups 13 Environmental Legislations 15 Government Regional Policy 17 Public Meeting 19 Environmental Improvements 21 Recommendations 22 Sources of Information 24 Business Questionnaire 26 Action Plan 27 Introduction One of the largest regeneration programmes in Europe including over 2 million sq ft of mixed use development is taking place in Paddington. Paddington is surrounded by some key places in central London. From the aerial picture it can be seen that it is surrounded by Kensington, Mayfair and Knightsbridge. It also has the advantage of being next to Regents and Hyde Park. Paddington is an ideal investment for a regeneration scheme as it has direct tube links to all London mainline terminals. Prior to the development Paddington used to be a deprived brown field site. The area lacked shops and services and was of no interest to large companies. However, the PBRP (Paddington Basin Regeneration Project) was set up to improve the area, attract investors and provide a clean, safe and appealing place to live and work. Regeneration has two broad roles: Firstly to ensure sustainable environmental improvement, creating a safe and pleasant environment for the Paddington area. Secondly, to deliver the range of economic, community and social benefits arising from the development of Paddington Waterside, drawing upon the experience and expertise of existing local agencies and organisations. With the development half complete, the Paddington Basin is firmly established as Europe's most important urban regeneration scheme. It has attracted some of the largest companies to place head quarters and retail outlets within the development area. Paddington Basin will be fully developed over a five year period. By the end of the five year period the area will feature all of its objectives, including head offices, shops, hospitals, restaurants, bars theatres, cinemas, child care facilities, water areas, expensive apartments and affordable low cost housing. ...read more.

Middle

The main way to reduce harm is to properly analyse how each part of the development will affect the environment and try to avoid it at all costs. Another important way is to make public all the steps of the development so that positive criticism can be made and things not thought of may be suggested. Practical ways to reduce harm is to try and adopt methods of development which cause less harm to the environment. Proper planning and designing by qualified and experienced people will mean that they can minimise damage to the environment. Their experience may also help them to find alternatives which is less risky to the environment and will cause fewer disturbances. Pressure Groups and local community protest groups The environmental and non-profit making objectives of a business are usually driven by pressure groups which represent public opinion about issues such as environment. Greenpeace, for example, protested when Shell Oil planned to sink old oil platform, which may have polluted the Atlantic. The public boycotted Shell petrol stations until the company changed its mind. It can be seen from the above incident that pressure groups can have influence and say in how a business operates. Although individuals may be opposed to the development, they have very little say and will not be taken into account unless they can form groups with other people holding the same ideas. Even then their argument may not have much influence on the project. In the case of PBRP there have been no pressure groups as such. One of the reasons for the absence may be due to the fact that the community appreciates the council's and developer's efforts to improve the area and have found no faults in their planning and development. If there were pressure groups then these may be formed by the stakeholders. This might mean that teachers, students, local residents and business come together in a bid to get their views heard and implemented. ...read more.

Conclusion

The development will be helping to improve the health of the people as it includes expanding hospitals and building new medical centres. Everybody will welcome this making the project desirable. Even those people who hold reservations towards the development will benefit from the development as it includes cleaning up the local dirty canal and planting trees. These activities will clean the air and will benefit even those people who aren't benefiting from the hospital expansion and medical centre. In terms of education and training I think that this development is not doing too good because of the closure of NWCS. However, they are benefiting from the expensive sale of the school and will be opening a new one near by. No pressure group has been formed by the school which is a good sign showing that even people who should be opposing the development have good reasons to compromise with it. The development will have a negative impact on the transport unless they create extra services for the increased number of people using the area. The Mayor of London, Ken Livingston is currently tackling the problem of congestion in central London which will help control the traffic problem that may be created by the Paddington basin development, This development is looking to create 30,000 extra jobs for the area, develop the environment, clean the canal and bring a whole load of entertainment and sports facilities to the area as well has many new shops and business. Projects such as this are very desirable for the local government and for the public, especially when they are taking derelict run down areas of a city and developing them to a desirable place where people want to like and work. I would support this development and recommend it, I as conclude at the end of this detailed report the findings that this regeneration project will out weigh all the costs, bringing short term and long term benefits to the area and all the stakeholders who have a stake in a major project such as this. Mohammed Abu Saleh 1 ...read more.

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