Jobs To Flow From Royal Exchange Plans

Plans to regenerate Belfast's Royal Exchange area must be outlined by October next year, a development consortium has been told.

NI Social Development Minister Margaret Ritchie laid down the deadline for the £360m project, which has the potential to generate 2,000 construction jobs, today.

She said a planning application must be submitted by 31 October 2010 if works are to proceed.

The scheme is focused on the North Street and Donegall Street area within the city's Cathedral Quarter.

It is believed 1,000 permanent retail and leisure jobs will be created when the development is complete.

Ms Ritchie said the commencement of works would be dependent on economic recovery.

Her department will now begin preliminary plans for the promotion of a statutory development scheme for the site in consultation with Belfast City Council.

"A statutory development scheme would determine the land uses for the proposed site and provide the basis for compulsory acquisition, should this be required in the public interest," said the minister.

The draft development scheme, and accompanying Strategic Environmental Assessment (SEA) and a draft Equality Impact Assessment (EQIA) are expected to be published for public consultation by next autumn.

"Setting out the timetable for submitting the planning application is an important stage in moving forward the next major retail-led regeneration project for Belfast city centre," Ms Ritchie said.

Key features of the development include a department store, retail units, offices, restaurants, cafes, a hotel, 700 car parking spaces and arts/cultural floor space.

Around 200 residential units will also be provided, including 20% for affordable housing.

Royal Exchange Consortium Ltd is made up of Northern Ireland companies William Ewart properties and Snoddon Construction along with ING Real Estate, which is Dutch-owned.

(PR/BMcC)