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Night Tube opens on Northern Line!
This Friday 18th November the Night Tube launches on the Northern Line, joining the Central, Jubilee and Victoria line in operating 24-hour services on Fridays and Saturdays. The Piccadilly Line will also operate a Night Tube from 16th December.
Volterra produced a report for TfL and London First in 2014 assessing the scheme’s impact on the night-time economy. Our findings indicated that the Night Tube would support 2,000 permanent jobs and provide £3.90 of benefit for each £1 spent on delivering it. You can read the full report here
and a commentary on the Night Tube by London Reconnections here
The study was led by Volterra's Partner Ellie Evans
, who said: “In addition to its employment impacts, the Night Tube will bring numerous other benefits and contribute towards a more vibrant night-time economy that will increase the attractiveness of London for visitors, residents and businesses. This is great news for Londoners, and keeps London competitive on the global stage”.
Hyperloop One: Stockholm to Helsinki
Volterra carried out an economic assessment of an ultra-fast transport system connecting Stockholm to Helsinki. Hyperloop One
will be an entirely new form of transport: as planned, it will connect city centres that were previously hours apart in minutes and deliver a step change in the relationship between distance and connectivity. The existing journey requires a flight – and the associated time to access the airport, check in and board – or a very long ferry. Hyperloop One
would run direct between the two city centres and reduce journey times between the two to half an hour, with intermediate stations along the route. The increase in accessibility will result in significant Wider Economic Benefits (WEBs) as a result of the increase in “effective density” and increased access to labour. Our work included valuing the user benefits and the WEBs, and incorporating them into the economic case.
Paul Buchanan’s published report: Transport, land use and economics
Volterra Partner and leading economist Paul Buchanan
has written a paper for the Journal of Urban Regeneration and Renewal.
Paul's article Transport, land use and economics
is featured as one of many papers discussing urban regeneration and renewal in a complex contemporary climate. You can read the article HERE.
The publication is the essential peer-reviewed journal for all professionals concerned with physical, economic and social regeneration of urban communities. It publishes in-depth articles and real world case studies on the latest strategy, policy making and current and best practice in the field. You can read more about the journal and indeed purchase it at Henry Stewart Publications.
Volterra supports Paddington Quarter plans
Volterra recently supported Great Western Developments Ltd.’s application to redevelop the former Royal Mail Sorting Office and Post Office next to Paddington Station. The proposed development, Paddington Quarter
, includes office, retail and café/restaurant uses across two buildings – an eighteen storey building, Paddington Cube, and a smaller two story satellite building. The scheme also encompasses 1.35 acres of public realm improvements, which will significantly improve access to the station, as well as delivering a new Bakerloo line ticket hall.
In our economic report, submitted to Westminster City Council alongside a planning application on Monday, Volterra estimated that the scheme will support 3,475 jobs directly on site, making an annual contribution of £350m to London’s economic output.
Volterra consultant Alex O’Byrne
says “Paddington Quarter will make a much needed contribution of office space to Westminster, delivering 6% of Westminster’s 20 year office floorspace target. Proposals near key transport nodes, coupled with significant public realm improvements, such as Paddington Quarter, should be encouraged to ensure Westminster’s future growth is not constrained.” Volterra partner Ellie Evans
adds “This is exactly why Crossrail is being built – developments like Paddington Quarter will enable London to realise the benefits of this vital transport investment, and to maximise those benefits through complementary public realm improvements.”
The Night Tube has arrived!
Volterra welcomes today’s launch of the Night Tube
, which will see London Underground operating 24-hour services on Fridays and Saturdays. Night Tube services will launch on the Central and Victoria lines from tonight, with the Jubilee, Northern and Piccadilly lines to follow in the autumn.
Volterra produced a report for TfL and London First in 2014
assessing the scheme’s impact on the night-time economy. Our findings indicated that the Night Tube would support 1,965 permanent jobs and provide £3.90 of benefit for each £1 spent on delivering it. You can read the full report here
The study was led by Volterra's Partner Ellie Evans
, who said: “In addition to its employment impacts, the Night Tube will bring numerous other benefits and contribute towards a more vibrant night-time economy that will increase the attractiveness of London for visitors, residents and businesses”.
Ellie Evans speaker at London Real Estate Forum 2016
Volterra Partner Ellie Evans
spoke at the London Real Estate Forum 2016
as part of a panel discussing the future of London’s economy. Brexit was looming, and the implications for London’s economy were discussed but setting that aside - Ellie focused on the role property developers can play in creating a diverse and attractive atmosphere in London that tourists, investors, occupiers and workers want to be part of. Ellie talked about the importance of leisure uses, public realm, and social infrastructure, in contributing to the success of commercial and residential developments across London.
You can read more about the event and watch a video HERE
Planning permission granted for Ilona Rose House
Soho Estates has been granted planning to convert the old Foyles building in the Tottenham Court Road Opportunity Area into a mixed use development known as Ilona Rose House
. The development will include the provision of office, retail and leisure space as well as improved public realm. Volterra authored the economic case for the development which is expected to support 1,485 jobs directly onsite. This is equivalent to an annual GVA of £128 million. Volterra Partner Ellie Evans
says ‘The additional office floor space provided by Ilona Rose House is c.10% of the growth in office floor space needed in Soho over the next 20 years in order for Westminster to meet its growth targets. This is a very significant contribution from a single scheme, as has clearly been acknowledged by Westminster.’
Volterra Associate Kieran Arter talks at Annual Transport Practitioners’ Meeting
Kieran Arter, Associate at Volterra, spoke at the 14th Annual Transport Practitioners’ Meeting
in Nottingham on 29 June discussing “How transport supports economic development”. He summarised the treatment of economic benefits in transport appraisal, ranging from traditional user benefits to the more recent thinking on Wider Economic Benefits.
Kieran also emphasised the importance of taking dynamic impacts into account – that is, the ways in which transport schemes affect patterns of land use. He explained the results of work undertaken by Volterra to better understand the relationship between accessibility and employment / population density, arguing that it is important to take land use changes into account within appraisal.
National Needs Assessment: when is evidence good enough?
Leading Economist Bridget Rosewell says that judgement will still need to play a big part in assessing our infrastructure needs of the future in her article National Needs Assessment: when is evidence good enough?
Published recently on the Infrastructure Intelligence website, you can read the article HERE
Bridget Rosewell is a member of the National Infrastructure Commission, headed by Lord Adonis, and has been a long-time advocate of the need for infrastructure when planning for the future. This fascinating analysis explores whether we can or even should achieve evidence based policy and decisions.