Ł8 Million Regeneration Scheme For East Belfast

20 September 2006
Ł8 MILLION REGENERATION SCHEME FOR EAST BELFAST
Four acres of derelict land at Ravenhill Reach/Ormeau Embankment are to be transformed into a business park, in an Ł8million redevelopment scheme.
Social Development Minister David Hanson MP has announced that 27 two-storey office units will be built on the site. He said: "The business units will bring much needed improvements to the appearance of the area which has lain derelict for some considerable time.
"The development will also contribute to local economic renewal through the employment, business development and local investment opportunities that this scheme will generate. The development is expected to create up to 270 full-time jobs on completion, with 160 jobs during construction.
"Graham Developments has been selected as the Department for Social Development's (DSD) preferred developer, following an open competition run by the Department's Belfast Regeneration Office.
"The redevelopment of vacant and derelict land offers real opportunities for local regeneration, helping to create attractive, safe and sustainable environments in the most deprived neighbourhoods. This is in line with our commitments under the Neighbourhood Renewal Strategy and in the Renewing Communities Action Plan published earlier this year."
It is hoped that the first phase of development at Ravenhill Reach will begin in June 2007.
NOTES TO EDITORS:
1. The site is located in the Woodstock council ward and has an impact on the Ballymacarrett ward, both of which are part of the Inner East Neighbourhood Renewal Area which has been targeted for intervention in the Department's Neighbourhood Renewal Strategy.
2. The redevelopment of this site will contribute to the strategic promotion, development and economic regeneration of this area. The site is in close proximity to a number of East Belfast's arterial routes and road networks and the banks of the Lagan River waterway, as well as being located near Belfast City Centre.
3. The Department's Belfast Regeneration Office (BRO) assessed the proposals with professional advisers, including planners and valuers, to select a preferred developer.
4. The site will remain in the Department's ownership until the developer completes the work to the required standard.
5. For further information please contact the Information Office on 028 9082 9078.

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