Thames Water donates riverside property worth up to £10million in backing crowdfunders' bid to rescue Olympic dock

Visualisation of the new bridge, footpath and community gardens

Thames Water has donated 2.5 acres of property in a bid to help raise thousands of pounds to transform a neglected London dock ahead of the Olympics.

East London charity the Gasworks Dock Partnership is aiming to open Cody Dock on the River Lea, located between Canary Wharf and the Olympic Park, before the Games start this summer.

The development will enable people to walk for 26 miles from Hertfordshire to the Thames. Users of the new Thames cable car will also be able to cycle direct to the Olympic Park via the bridge.

After three years of negotiations and thousands of hours of voluntary work, the project organisers have managed to secure the full support of their local authority Newham Council and raised seed funding from the likes of Groundworks, the Sita Trust and London Thames Gateway Development Corporation to construct the new footpath and community gardens.

They are now turning to river enthusiasts and Londoners in order to build the wooden bridge that will form the centrepiece of this new riverside path.

So far £56,000 has been raised, but the Gasworks Dock Partnership is asking businesses and the public to help raise the remaining £83,000 through Spacehive.com - the first crowd-funding platform for the built environment.

Andrew Teacher, policy director at Spacehive.com, said: “Crowd-funding is an open goal for developers and other firms who want to be more in touch with their communities. At a time when council funding is pretty non-existent, this is a vital new funding stream that developers and architects can tap into to help create vibrant public spaces that ultimately up the value of everything around them.”

The land donated by Thames Water has an estimated development value of around £10m. It is currently worth over £750,000 in its current state. Full planning permission has been granted for the site and there are no contamination issues that need to be dealth with.

"The River Thames is at the heart of our operation. We are dedicated to enhancing the people's experience of the river and opening it up to the public. We think the improvements to Cody Dock are a fantastic solution for the site and we're very happy to support this community-led project," commented Yvette De Garis, Thames Water’s environment and quality strategy manager.

Visit www.spacehive.com/codydock

The Gasworks Dock Partnership
The charity was originally formed to act as the community-led vehicle for the regeneration of this forgotten dock and its transformation into a creative quarter where people can explore their waterways environment and learn more about the areas industrial heritage.

The Lea River not only supplies East London with its drinking water but is also home to a string of wetland and wildlife reserves that provide a stunning pedestrian corridor that acts as a green lung passing all the way through Waltham Abbey, Tottenham, Walthamstow and Hackney Marshes, the Olympic Park, Three Mills Island, before finally cutting through London’s Docklands and entering the Thames on the opposite bank to the O2 arena.

www.gasworksdock.org.uk

About Spacehive
Spacehive.com is the first crowd funding platform for the built environment. It allows communities to collectively fund capital public space projects. The service allows anyone to put forward a project proposal and anyone to fund it - from local businesses and families to councils and corporates.

Projects range from skate parks, gardens and community centres to high street makeovers, arts spaces and playgrounds. People who pledge money only pay if the project hits its funding goal. So it's a risk-free way for people to support great schemes.

www.spacehive.com

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