We were two days from starting to clear the site in Jan 2020.
See Phase 1.

Phase 1 is ready to start: It includes the renovation of the historic Brunel building and the building of the Energy Centre. The majority of the cost of the renovation of the Brunel building is already funded by the National Lottery Heritage Fund through their £2.58 million grant. The Energy Centre would be the provider of energy for the whole scheme, and is designed so that it also includes office space that can be let.

• Site clearance
• Brunel Arts & Music Venue
• Energy Center
• Local employment

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• 58 bed Eco-hotel
• Truly affordable homes
• Work spaces
• Homes for older people

As a provider of genuinely affordable housing, and as a community-owned organisation with a strong social purpose, we will be able to draw down finance that a private developer would be unable to access. The 58-bed hotel would start generating income as soon as it opens and the income from the operation of the hotel, rental incomes from the residential housing and the live/work units would pay back these loans over a 25 year period.

• Health & Wellbeing Centre
• Truly affordable homes
• Grocery store
• Riverlink café
• Water activities & ferry link

As with the other phases, the rental incomes from all of these different elements generate sufficient revenues to pay back on loan agreements. See what happened at Coin Street in London.

• Youth facilities
• School for Food Entrepreneurs
• More affordable homes
• Microbrewery
• Flood defence

25 years all of its investment has been repaid, Atmos will then be generating a substantial revenue every year from its onsite activities and from rental income - what is known in the not-for-private-profit world as ‘the surplus’ - all of which will then be reinvested into the town of Totnes. This could be as much as £2-3 million a year.

Is the Atmos Plan Viable?

Yes. TCDS is a development company that has undertaken extensive pre feasibility works to ensure the scheme the town needs is possible and viable.  The community led model for what constitutes viability is clearly different to that of the conventional commercial development that people are most familiar with. It has been proven to work in other parts of the country, such as in the Coin Street Community Builders development in London.

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