TALK BACK COMMENTS
It has been sometime since I last spoke with you, much has been happening so I would like to take a few moments to update you where we are with progress on the regeneration and answer some recent questions.
The development Agreement on Union Square, frustrating as it is we are still working through the final details of the development agreement and are hoping to have it signed in the next month or so. Some concern has been raised over the 'Credit Crunch'; Financing is significantly more difficult with banks requiring greater equity injection or company guarantees coupled with nervous retail and office occupiers. However the developers, MUSE, are long term investors and will carry the peaks and troughs. Rest assured the end result will be worth the wait.
Work has started on the Jury's site, on the corner of Fleming Way & Princes St, with the site currently being cleared ready for the development.
Modus: Regent Place, The Baptist Tabernacle stones have been purchased will be used as the entrance to the development from Regent Street. The Art Gallery was taken out of the scheme due to viability. The programme remains much the same with the scheme opening in 2011.
Green spaces, I understand the concerns about green spaces; however, we are working in a fairly small, high-density urban area where vast open green spaces are just not viable. We are doing what we can to improve the public realm with the planting of trees and such like in the town centre. Equally, links to Swindon?s Parks will be greatly improved as part of the regeneration programme. As for the canal, this is a very long-term project and we are keen to ensure that it does not hold up any other regeneration plans whilst feasibility studies continue.
Posted on Wednesday 26th March 2008