WORK on a major Ipswich Waterfront development has been scaled back as a result of economic problems and the faltering housing market, it emerged today.
WORK on a major Ipswich Waterfront development has been scaled back as a result of economic problems and the faltering housing market, it emerged today.
Regatta Quay will eventually provide nearly 400 homes along with a new theatre, shops, cafés and office space.
The Evening Star has learned that work on one of the blocks of the development has been scaled back because of the tough economic climate.
Graeme White, managing director of City Living Developments, said two of the three main blocks of the development - blocks C and D - are proceeding as before although work has slowed on block A
“We are due to complete blocks C and D by next spring,” he said.
“They will be fitted out 100 per cent.
“We aren't going to fit out the other block at 120 miles an hour and leave 120 flats sitting empty
“We will complete the scheme.
“But it's not going to be as fast as we wanted.
“It will not be done at 100mph, rather 50mph.
“We are trying to be as inventive as we can - we are working very hard with Ipswich Borough Council, commercial operators and banks so it doesn't get mothballed.”
Mr White said, however, that a hotel earmarked for the site is set to go ahead with an application for planning permission set to be made to town chiefs next year.
Are you concerned about the state of the economy? Write to Your Letters, Evening Star, 30 Lower Brook Street, Ipswich, IP4 1AN or e-mail eveningstarletters@eveningstar.co.uk
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