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28/04/2016
DSD Pulls Out Of Northside Regeneration Scheme
The Department of Social Development (DSD) has reportedly pulled out of a proposed £300m Northside Regeneration Scheme.
The development project had laid out a plan to regenerate the area between Royal Avenue and Carrick Hill and included thousands of student apartments, retail outlets, business premises and a hotel.
It is understood that a letter was sent to Northside Regeneration Limited, a consortium appointed by DSD in 2014, stating that the Stormont Department was pulling out following an "assessment of the scheme".
In a report by the BBC the consortium said that it was "surprise and disappointment" at the announcement.
The report added that DSD has "no alternative plans" for the area, but that "other options can now be explored".
(MH)
The development project had laid out a plan to regenerate the area between Royal Avenue and Carrick Hill and included thousands of student apartments, retail outlets, business premises and a hotel.
It is understood that a letter was sent to Northside Regeneration Limited, a consortium appointed by DSD in 2014, stating that the Stormont Department was pulling out following an "assessment of the scheme".
In a report by the BBC the consortium said that it was "surprise and disappointment" at the announcement.
The report added that DSD has "no alternative plans" for the area, but that "other options can now be explored".
(MH)
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