Huge regeneration projects in east and west London could be threatened by proposals to scale down Crossrail, the planned high-speed cross-London rail link.
The board of the Cross London Rail Links company, a jv between Transport for London and the Strategic Rail Authority, will make the case only for the core of the rail link, concentrating on the tunnel between Paddington and Whitechapel, potentially leaving regeneration projects on the rail link “limbs” in the lurch.
A spokesman for the company said financial constraints might force the board to opt for a feasible option, instead of an ideal one, in the first stage.
“Crossrail is not about linking Heathrow to Stratford. Its mainly about increasing the capacity at Paddington and Liverpool Street. Thats what we need the government to agree to first. Thats what we will present.”
The board was locked in discussions until late Thursday to decide which route would be presented to government.
He added: “Crossrail is not fundable in one hit and it is not buildable in one hit. It will have to be phased.”
The favourite model for funding the rail line – by issuing bonds securitised against track access charges – will not raise enough money to build the entire line (see map). Added to that, Crossrail will have to pay a lot for the finance because the revenue stream is long term.
The route the board will present to government will be considerably shorter than the earlier proposals.
It is understood that additional routes, and even extensions to Heathrow and Stratford, may have to wait another two-and-a-half years before they will be considered.
Members of the board have argued that the Heathrow Express can provide the capacity from the airport, while the Channel Tunnel will provide the infrastructure for Stratford.
The board is yet to decide on whether the south-eastern arm of the line will eventually run through Royal Docks or Charlton.
Although strong cases have been made for the route going to the Royal Docks, where Development Securities is developing its 50-acre Royals Business Park, the board is concerned about the costs.
Although a route through the Royals would cost between £600m and £700m, the alternative through Charlton would cost just £300m.
Any further delay in getting Crossrail off the drawing board will cause huge problems for the ambitious plans for the capitals growth detailed in Mayor Ken Livingstones London Plan.
Much of the 90m sq ft of new commercial space and the 500,000 homes in the plan will have to be phased along with the infrastructure, making them reliant on the construction of the outer limbs of Crossrail.
The proposals will be put before parliament as a hybrid Bill. Although the Bill was originally expected either this year or next, it has now been put back until 2004-05.
A spokesman for Crossrail said that the phasing of the line did not mean that only the core would be built and said that they were on target for completion by 2012.
EGi News 25/11/02
