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56
Owing to the proximity of the eastern boundary of the Borough to
Hyde Park and Belgravia, and to the attractiveness of the Embankment
forming the southern boundary, residential values in these neighbour—
hoods have greatly appreciated in recent years, the price of land has
been correspondingly increased, and the old type of small house, accommodating
the small trader and the artizan or labourer, has been replaced
by modern houses and mansions let in flats commanding high rents.
The process of development has been largely in the hands of Estate
Companies, who have purchased the reversionary interests of the ground
landlords, and proceeded to carry out the demolitions and reconstructions,
as soon as the property came into their possession. Until subsequent
to the War, no restriction operated, nor did any liability attach to
Estate Companies, conducting operations of this nature, to make any
provision for rehousing the working classes displaced.
In this way during the past 35 years, some 20,000 Chelsea inhabitants,
chiefly of the working and small trader class, have been displaced and
compelled to migrate into surrounding districts.
Despite the difficulties of the problem, in Chelsea a considerable amount
of accommodation has been provided for the working classes during the
years preceding the outbreak of War. This had been effected by
municipal undertakings, by private enterprise and by the operation of
benevolent agencies and trusts.
Sufficiency of Supply of Houses.—Municipal undertakings for the
housing of the working classes carried out by the Borough Council prior
to 1914 are shown in Table No. 36:—

Private enterprise, benevolent agencies and trusts had also made
very important contributions to housing in Chelsea prior to 1914. These
are shown in Table No. 37.