[02
DEC 98] COVENTRY CITY COUNCIL NEWS
Council Look For Phoenix BackersCoventry
City Council are appealing for developers to get involved with their ground-breaking
Phoenix initiative to make the venture as successful as possible.
The project has received a big boost after
Environment Secretary John Prescott said he would not intervene in the Millennium
initiative, which will link Coventry cathedral to the motor museum through a series of
squares and gardens
Now Coventry Council who already have the £20million
needed to for the project in place after matching a £10 million Millennium grant are
inviting developers to get involved with the project.
City Centre Team Leader Duncan Elliot believes it is a very
attractive proposition. He said:
"The £20 million we have for the scheme is set aside
for the demolition of the existing buildings, compulsory purchases and the development of
the four large squares.
"We are now looking to encourage developers to look at
one of the squares, which will be called Priory Place, as a venue to build units located
around the square which could be let as cafes, bars, restaurants, or shops.
"I see Priory Place as being similar to Brindley Place
in Birmingham and I have no doubt that their will be large number of interested parties
when they see the potential in the site."
The Council are currently advertising the opportunity and
are recording interest from companies with the drawing up of a shortlist of suitable
ventures expected in about a months time.
The initiative involves the demolition of the Alhambra pub
in New Buildings and the Gala Bingo Club as well as the rear of multi-storey car park, and
compulsory purchase orders are being sought.
It is thought that the development will be the subject of a
public enquiry if, as expected, occupants of buildings that have been ear-marked for
demolition appeal against the order.
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