DEVELOPERS behind one of Yorkshire’s biggest regeneration projects which stalled in the recession have confirmed that the next phase of the £150m scheme will be assessed later in the year.
The second stage of the Hungate project to transform a 10-acre site within York’s medieval bar walls has been on hold due to the economic downturn.
But directors from the company behind the development, Hungate (York) Regeneration Limited, have revealed that a decision could be made before the end of the year as to whether work will resume.
The sales and marketing director for Hungate, Niki Turner, revealed that there were now only 10 townhouses and six duplexes remaining for sale from the first phase of the development.
She maintained that the available properties had continued to attract strong interest despite the slump in the housing market.
She added: “We are monitoring the market and will be better placed later this year to decide upon the most appropriate timing for the commencement of phase two.”
York Council gave its approval to the plans in 2005 to transform the semi-derelict Hungate site with 720 new homes as well as a riverside piazza, walkways and cycle paths.
The regeneration scheme was heralded as one of the most significant building programmes in Europe by the architects behind the scheme.
The largest archaeological dig in York for almost 30 years since the famous Coppergate excavations were carried out ahead of building work.
But the development has been blighted by a series of problems. York Council had planned to build a new headquarters on the Hungate site, but was forced to go back to the drawing board after English Heritage raised objections in 2008.
Work has now begun on constructing the new council base on a different site at West Offices in Station Rise.