Regeneration Update

Having received a number of comments from people venting frustration about the lack of progress in the regeneration of the town, I want to reassure you that while you may not see any action on the ground, things are progressing behind the scenes. I realise it can be very frustrating that things take time - it is just as frustrating for us, believe me.

But I would like to reiterate that projects of this scale and nature are inherently time consuming. There are many parties involved and numerous issues to consider, meanwhile, the economic climate in which we find ourselves is ever changing.

I can tell you that we are in the final stages of negotiations with Modus and Muse regarding Regent Place and Union Square and hope to have the development agreements signed shortly. This will be a huge milestone in the regeneration of Swindon and signal an important step moving forwards.

I will make sure to keep you updated ? please bear with us, change is happening, but we want to put in the time and effort to do it properly.

Posted on Thursday 17th July 2008

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Comments

Re: Regeneration Update

yes thats very helpful and i know these take time and developments like Regent Place and Union Square are long term projects. But you haven't answered my concerns regarding the old college site. I thought everything was good to go but still nothing is happening. When will the cranes move in?

Posted by Sam on Thursday 17th July 2008

Re: Regeneration Update

I appreciate the update but we have heard this before - wanting to do things properly is admirable, but at the cost of achieving anything?

I really do understand things take time but surely there's only so long the cynics can go on being cynics before they're accepted as realists?

For over 6 months we've heard that the Development Agreements are about to be signed - why on earth should we believe it this time?

I realise this will come accross as unconstructive criticsim but I would really love to be proved wrong......please!

Rob

Posted by Rob on Thursday 17th July 2008

Re: Regeneration Update

The developers of the old college site have said that they hope to have the building down by the end of the year. This is all dependant of the negotiations they are having with the potential tenants. Unfortunately dates are extremely difficult to confirm, we are however told that negotiations are taking place with a supermarket, a cinema provider and various restaurants and cafe operators. We will keep you updated as much as possible, unfortunately as we have said many times before these negotiations are confidential and can take some time particularly in the current economic climate. TNSC

Posted by Carol Heneghan on Friday 18th July 2008

Re: Regeneration Update

'hope to have the building down BY THE END OF THE YEAR'?!?!?

We were told it would be down by the end of '07?!

What a complete and utter joke.

Posted by Richard on Friday 18th July 2008

Re: Regeneration Update

I have noticed that the comments here are showing the frustration felt but I think we have to be realistic.

Swindon's Redevelopment has found itself foul of the current uncertainty sweeping the development and finance industry. I think its true that our time will come but at this stage I don't think your find the likes of Modus and Muse rushing to dive in.

Remember the truth is this a financial investment, its about the best return for your money its not about love for the town. We are relying on the NSC to ensure quality, infrastructure and sustainability criteria is met. (Perhaps a reason for delay in Development agreement?)

They don't want to build where there is no demand. Plus who wants more empty shops in the centre of town? I would predict more chance of Union Square (mainly Office development) happening first than Regents Circus.

Posted by Gordon on Tuesday 22nd July 2008

Re: Regeneration Update

I agree with a lot of what you say and understand that Modus / Muse / Ashfield not philanthropic Swindon benefactors.

The frustration stems from the lack of information we?re given and the ?everything?s fine, the economy isn?t a problem? type messages we?re given. The previous 2 ?Regeneration updates? from Peter James are virtually identical. It?s one delay after another without any tangible progress seemingly being made 2008 ? are we any closer to development starting now than we were on January 1st? I don?t know?

I?d almost appreciate an update saying ?the economy is stuffing us left right and centre, we?re doing our best but it looks like no development is going to happen in the near future (2 yrs). The developers are understandably very reluctant to take things further in the current climate so let?s hope things improve sooner rather than later but, for the time being, don?t get your hopes up?. It would be massively disappointing but at least it would reflect the apparent reality.

The regeneration is in desperate need of some real good news, some actual progress. Not a report, not something small dressed up as something it?s not. The Development Agreements being signed could be that ?shot in the arm?, I just hope it actually happens.

Posted by Rob on Tuesday 22nd July 2008

Re: Regeneration Update

Hi there,

I appreicate you're (hopefully) all very busy, but could 'keeping us updated' mean updates are given a bit more regularly? I'm not sure of the pace of change but anything is appreciated?

Also, do you have any CGI's of Regent Place / Union Square that you'd be able / allowed to put on the website? It's good to dream at least.....

FInally, if / when the DA's are signed, would this be 'announced' on this website?

Cheers

Posted by Ben on Friday 25th July 2008

Re: Regeneration Update

The announcements will be made on the site. We are working on an updated Website for launch early September which will feature more CGI's etc.

In terms of progress, the DA's are working their way through the system. News soon.

Posted by Carol Heneghan on Friday 25th July 2008

Re: Regeneration Update

I really do hope that the Development Agreements with Modus, Ashfield and Muse are signed because development funding has all but disappeared and many developers do not now have the cashflow to see things through. Swindon has great potential and the developers will need to dig deep and inevitably put more of their equity into the scheme proposals. They will be rewarded in the medium term as Swindon will be a powerhouse given a bit more fuel.

Posted by James Noble on Monday 28th July 2008