2024-11-22T21:49:22-05:00 https://archinect.com/news/article/150002917/redeveloped-with-the-promise-of-new-social-housing-the-heygate-estate-s-units-have-been-entirely-sold-off-to-foreign-investors Nicholas Korody 2017-04-13T17:41:00-04:00 >2017-04-13T17:41:52-04:00 <img src="https://archinect.gumlet.io/uploads/5l/5lmn87883enjs7t5.png?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><p>The Heygate Estate in London was torn down in 2014, forcing tenants out of their homes with compensation that was less than 40% of market value. Supposedly, the replacement building would have affordable housing as well. But, according to <a href="https://www.vice.com/en_uk/article/every-flat-in-a-new-south-london-development-has-been-sold-to-foreign-investors" rel="nofollow" target="_blank">Vice</a>, 100% of the properties sold in the building so far have gone to offshore foreign investors. While the original redevelopment plan called for 500 social housing units, just 82 were actually built out of a total of 2,530 new units.</p>