Council to discuss regeneration plans with city developer

Belfast City Council Belfast City Council could become a partner with developers McAleer & Rushe on projects such as the redevelopment of the Belfast Telegraph building it has emerged.
By The Newsroom
Published 19th Feb 2016, 18:16 BST
Updated 19th Feb 2016, 18:19 BST

The council has established a £19m city centre development fund intended to be used for private sector partnership projects and, on Friday, its Strategic and Policy Resources committee gave officers approval to pursue regeneration discussions with the Cookstown based firm which bought the Telegraph building on Royal Avenue earlier this month.

The City Centre Investment Fund was set up last Autumn specifically for progressing city centre regeneration schemes.

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The City Centre Regeneration Investment Framework highlighted the northern side of the city centre around the new Ulster University campus as a priority area for regeneration and investment.

The fund enables the council to work with the private sector and help move forward schemes that align with the Framework and support new jobs and investment.

In a statememnt, the council said any financial support is woudl only be agreed after “careful scrutiny and intense due diligence is carried out”.

It would also have to be satisfied that the site will be developed to complement the Ulster University project by “attracting new businesses to the area and providing a stimulus for wider investment,” the statement added.

Related topics:Belfast City CouncilTelegraph