Chapel Market is set to receive a funding boost from Islington Council and the Mayor of London.
Sadiq Khan’s Good Growth Fund Accelerator is granting a £1mill investment to the local market.
Islington Council have also promised a further £400,00 to the local retail centre.
The investment is part of the Chapel Market Project, which aims to redevelop the traditional street market that opened over a century ago.
Plans for how the funding should be used are still in early stages.
Options being considered include a community events centre and a traders’ hub.
Environmental and air quality policies are also being considered as part of London’s goal to reach carbon zero by 2030.
Traders recommend improvements
Joanna Coote, a card stall owner, told City News that “street scaping” is one policy which the market would benefit from.
She argued that improving the appearance of the marketplace, adding more trees and encouraging more cyclists was important in expanding customer numbers.
Traders have recommended ideas for improving the market
The market has capacity for 224 stalls. However, trader occupancy has steadily declined over the past few years.
Ms Coote explained that the funding needed to “encourage more traders” to take up stalls as the decline has meant “there are a lot of gaps in the market”.
Public consultation open
Islington Council have not confirmed how the funding boost will be spent.
However, councillors are encouraging people to have their say on potential improvements for the market as part of a public consultation.
Suggestions and data collected will be shared by the council once the consultation closes on Sunday.
Short HeadlineChapel Market gets £1.4mil funding boost
StandfirstIslington Council have launched a public consultation into how the investment should be used.
Chapel Market is set to receive a funding boost from Islington Council and the Mayor of London.
Sadiq Khan’s Good Growth Fund Accelerator is granting a £1mill investment to the local market.
Islington Council have also promised a further £400,00 to the local retail centre.
The investment is part of the Chapel Market Project, which aims to redevelop the traditional street market that opened over a century ago.
Plans for how the funding should be used are still in early stages.
Options being considered include a community events centre and a traders’ hub.
Environmental and air quality policies are also being considered as part of London’s goal to reach carbon zero by 2030.
Traders recommend improvements
Joanna Coote, a card stall owner, told City News that “street scaping” is one policy which the market would benefit from.
She argued that improving the appearance of the marketplace, adding more trees and encouraging more cyclists was important in expanding customer numbers.
Traders have recommended ideas for improving the market
The market has capacity for 224 stalls. However, trader occupancy has steadily declined over the past few years.
Ms Coote explained that the funding needed to “encourage more traders” to take up stalls as the decline has meant “there are a lot of gaps in the market”.
Public consultation open
Islington Council have not confirmed how the funding boost will be spent.
However, councillors are encouraging people to have their say on potential improvements for the market as part of a public consultation.
Suggestions and data collected will be shared by the council once the consultation closes on Sunday.
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