"Golden Gardens" plan hit by recession
http://www.warrington-worldwide.co.uk/articles/7519/1/Golden-Gardens-plan-hit-by-recession/Page1.html
By Orbit News Ltd.
Published on 10/03/10 7:00 am
A MULTI-million £ plan to transform Warrington's run-down Bank Park
into one of the finest town centre parks in the UK is being held up by
the recession.
by David Skentelbery
A MULTI-million £ plan to transform Warrington's run-down Bank Park into one of the finest town centre parks in the UK is being held up by the recession.
The "Golden Gardens" scheme depends on private sector involvement, through development of a number of council-owned sites in the area around the park.
But Town Hall chiefs have been told that in the current economic and property market conditions, there is no development value in any of the sites to contribute to improvements to the park.
The plan was first unveiled by the council a year ago, when councillors were told it was expected to take up to 12 months to find a private sector partner to finance the scheme.
In fact, no partner has yet been identified and next week, the council's executive board will be asked to approve a supplementary planning document to help progress a competitive dialogue process to select a development partner.
The document, if approved, will go out for consultation for six weeks with a view for final adoption in July.
In a report to the board, Coun Bob Barr, (pictured) executive director for planning and regeneration, says: "It is envisaged that it will be at a future date, when property funding and economic conditions improve, that the scheme will become financially viable."
A year ago, councillors were told the enhanced park would help provide the town centre with a new "gateway", linking Bank Quay and Central stations, improving the setting of the Town Hall and providing a tasteful redevelopment of the Garven Place clinic site
The project is also seen as a means of enhancing the vitality of Sankey Street, providing pedestrian routes to Golden Square and Sankey Street and providing a contemporary park which will be a venue for outdoor events, festivals and other activities.
New homes, jobs and "hospitality uses" are envisaged for the Garven Place site
But the cost of the overall scheme would be beyond the means of the council and a private sector partner would be needed to pay for the development and take the risks. The council would contribute its ownership of the land to be developed.
The "Golden Gardens" scheme depends on private sector involvement, through development of a number of council-owned sites in the area around the park.
But Town Hall chiefs have been told that in the current economic and property market conditions, there is no development value in any of the sites to contribute to improvements to the park.
The plan was first unveiled by the council a year ago, when councillors were told it was expected to take up to 12 months to find a private sector partner to finance the scheme.
In fact, no partner has yet been identified and next week, the council's executive board will be asked to approve a supplementary planning document to help progress a competitive dialogue process to select a development partner. The document, if approved, will go out for consultation for six weeks with a view for final adoption in July.
In a report to the board, Coun Bob Barr, (pictured) executive director for planning and regeneration, says: "It is envisaged that it will be at a future date, when property funding and economic conditions improve, that the scheme will become financially viable."
A year ago, councillors were told the enhanced park would help provide the town centre with a new "gateway", linking Bank Quay and Central stations, improving the setting of the Town Hall and providing a tasteful redevelopment of the Garven Place clinic site
The project is also seen as a means of enhancing the vitality of Sankey Street, providing pedestrian routes to Golden Square and Sankey Street and providing a contemporary park which will be a venue for outdoor events, festivals and other activities.
New homes, jobs and "hospitality uses" are envisaged for the Garven Place site
But the cost of the overall scheme would be beyond the means of the council and a private sector partner would be needed to pay for the development and take the risks. The council would contribute its ownership of the land to be developed.