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Deadline for city rebuild scheme Deadline for city rebuild scheme
(about 1 hour later)
The consortium behind a major regeneration project in Belfast city centre has been given a deadline to submit its planning application.The consortium behind a major regeneration project in Belfast city centre has been given a deadline to submit its planning application.
The £360m Royal Exchange project aims to transform a square mile area to the north east of Belfast city centre.The £360m Royal Exchange project aims to transform a square mile area to the north east of Belfast city centre.
Royal Exchange Consortium Ltd has until 31 October 2010 to submit its application to Planning Service.Royal Exchange Consortium Ltd has until 31 October 2010 to submit its application to Planning Service.
The plans also have to be approved by the Department of Social Development before they reach the planning stage.The plans also have to be approved by the Department of Social Development before they reach the planning stage.
Social Development Minister Margaret Ritchie said a date to begin work on the project would not be decided until both her department and the developer agreed that the economic climate could support the scheme.Social Development Minister Margaret Ritchie said a date to begin work on the project would not be decided until both her department and the developer agreed that the economic climate could support the scheme.
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"Once the necessary planning approvals have been secured and other pre-conditions satisfied, my department and the developer will make a judgement on when the market will be ready to move forward with the construction of the project," she said."Once the necessary planning approvals have been secured and other pre-conditions satisfied, my department and the developer will make a judgement on when the market will be ready to move forward with the construction of the project," she said.
It is hoped the development will create 2,000 construction jobs and 1,000 permanent jobs in retail and leisure.It is hoped the development will create 2,000 construction jobs and 1,000 permanent jobs in retail and leisure.
It will include a department store, retail units, offices, restaurants, cafes, hotel, 700 car parking spaces and arts/cultural floor space.It will include a department store, retail units, offices, restaurants, cafes, hotel, 700 car parking spaces and arts/cultural floor space.
The development will also include 200 residential units, 20% of which have been earmarked for affordable housing.The development will also include 200 residential units, 20% of which have been earmarked for affordable housing.
Royal Exchange Consortium Ltd is made up of William Ewart properties and Snoddon Construction. Royal Exchange Consortium Ltd is made up of Northern Ireland companies William Ewart properties and Snoddon Construction along with ING Real Estate, which is Dutch-owned.
The scheme was announced by the government in 2006 and was meant to have been completed by 2011.The scheme was announced by the government in 2006 and was meant to have been completed by 2011.
Some Belfast city councillors have been critical of the slow progress of the scheme as some of the streets which will be redeveloped have become increasingly run-down.