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Hackney Council has announced that it will take over a building on Ridley Road, significantly increasing the chances that the area – including its famous street market – will retain its character and diversity.
The future of Ridley Road Shopping Village was under threat after its owners revealed plans for its redevelopment into flats and retail spaces. This was widely seen as a threat to Ridley Road’s Market, and another example of creeping E8 gentrification. However, now Hackney Council has committed to taking on a 15-year lease of the property, being responsible for its management going forward and – significantly – declaring it an Asset of Community Value, safeguarding it against future development.
The Shopping Village had been a local amenity but its occupancy had declined over the years and it had had issues with anti-social behaviour and drug-dealing. The council plans to refurbish it and improve its facilities, including its toilets, which will help the traders on Ridley Road Market.
In a statement, mayor of Hackney Philip Glanville said: ‘Bringing the Shopping Village and the street market together under the council’s stewardship will strengthen Ridley Road’s position at the heart of Dalston’s economy for the long-term – they will complement each other and will both be managed in the interests of local traders, businesses and residents. [The plan] will safeguard much-loved local places such as Ridley Road and protect what makes the area truly special.’
Campaigners to preserve the market were delighted at the news, tweeting: ‘After years of uncertainty and so much work by so many, this is a HUGE victory. For traders, campaigners, the whole borough.’
Securing the future of Ridley Road Market was one of the priorities of Hackney Council’s 2021’s Draft Dalston Plan, a proposal for the next 15 years of the area, based on the views of more than 5,000 people.
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