So here's the latest design, safely away from the waves, more or less, blending in with its environment (not) and bound to be great value for money (well, we'll just have to wait for the 10-year review). Big News Margate has a good review of the presentation, although it seems the architectural details are still a little way off completion or publication.
BBC Kent has a short report about the new ideas. Chipperfield Architects' own web site has yet to add much info about it, but presumably will do when plans make a bit more progress (see Projects - Project List - Current - Page 3).
All in all I have to say I'm for it - almost any investment should produce some benefit for the local area in terms of tourism, support businesses, cultural atmosphere and general PR. Whether the money could be better spent is another question of course... And whether the constant references to Bilbao, St Ives and Cafe Society are wishful thinking or brilliant foresight will only be known in a few years' time. I appreciate Margate bloggers will have a very different view - for me it's somewhere different to visit, and not in my immediate backyard so I'm quite ok with it (at least until I see the impact on my Council Tax).