Phase One is the work on the Brunel building, the clearing of the rest of the site, and the site remediation works.
The rest of the site is then to be built out in a series of phases, each one underpinned by its own viable business model.
Where has Community development worked before?
Atmos is not designed with the generation of a lump sum of profit to be realised immediately after the development is completed. That's 'business as usual'
Instead it is designed to generate income through the selling of property and renting of commercial space inline with the Phases of the site. The surplus from commercial activities on the site will be used to repay loans and, once these are paid off, use that surplus to re-invest in Atmos and the wider town.
The National Lottery grant of 2.5 Million kicks off Phase 1, while staged grants, loans and investments would progress the project to completion in 4 years.
“Atmos is one of the most groundbreaking proposals for community-led developments in the UK today. Based on my own research and experience over the last twenty years, Atmos is a classic win-win project for local and central government, local businesses and the community. We face huge challenges as a nation to build a net-zero, more resilient society by the 2030s. Atmos is part of that solution, and should be prioritised as such”.
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