HUGE elements of the £400m Northgate Development might have to be ditched to make it work financially.
The retail-driven city centre regeneration scheme is in jeopardy because of global market conditions which have seen the cost of financing the project soar.
Speculation is mounting non-profitable aspects of the project such as public amenities, especially the performing arts centre, might have to go if the scheme is to get off the ground.
Deputy council leader Cllr Stephen Mosley is unwilling to guarantee the replacement for the Gateway Theatre will still be built and told The Chronicle developers ING were reviewing each element.
He said: “ING have gone away to see how they can save money from the scheme and reduce costs to make it financially viable. We are still hopeful of building work starting in the summer.”
Full story in Friday’s Chronicle
