Subject to planning and other statutory approvals, the redevelopment of this site will see a significant investment in Castle Street, which will result in a mixed used development, incorporating retail space and residential accommodation.

Minister Hargey said: “My Department acquired a derelict site at Castle Street and Marquis Street in Belfast in 2018 for the purposes of redevelopment.  The site has been derelict for many years and is a blot on the landscape, which needs to be addressed.  Following a competition by my Department for developers to put forward their proposals for the site, I can announce that the developer is CSI1818 Limited.

“CSI1818 Limited has also acquired adjacent sites for development alongside the Department’s site and their combined redevelopment programme will lead to construction of retail space and much needed city centre residential accommodation as well as providing valuable employment for the construction industry.

Economic renewal

“The development will contribute to the physical and economic renewal of the area.  It will create job opportunities and will benefit businesses both locally and in the wider city centre.

Joe O’Leary, Director of CSI1818 Limited said: “CSI1818 Limited is delighted to have been selected as the preferred developer for the regeneration of this site that has been derelict for many years.

“It is with great enthusiasm that we are taking forward a more comprehensive scheme that extends along Castle Street to King Street. This area has been neglected and has suffered in the aftermath of the fire at Bank Buildings.

Support of local businesses

“With the support of local businesses, the NI Executive and Belfast City Council, we will transform this major gateway into the city centre, delivering much needed housing, retail space for local independent businesses and the footfall required for a vital and viable city centre.

“Drawing on ‘A Bolder Vision for Belfast’ our vision extends to the space around the new buildings, using the space to enhance the liveability of the area for new and existing residents.

“In the aftermath of Brexit and the Pandemic we must be ambitious, innovative and drive forward the vision of making the city centre a safe, exciting and attractive place for people to live.”

The post Redevelopment boost for Belfast’s Castle Street Announced first appeared on Neighbourhood Retailer.

Official confirmation that the UK economy is now in recession should spur the NI Executive into accelerating investment in key infrastructure projects to aid recovery.

“Whilst it comes as no surprise that the UK economy is now in recession, the scale of the downturn is truly shocking,” said Chief Executive Simon Hamilton. “It has been great to see more and more of our city’s economy reopening over recent weeks and months but Belfast Chamber is increasingly worried about the long term devastation that the coronavirus pandemic could have on the city’s economy in terms of job losses, business closures and a slow down in investment.

“The news confirming the UK is in recession should spur the Executive into accelerating infrastructure schemes like the City Deal projects, the York Street Interchange and the Transport Hub that will not only create jobs during construction but will also help Belfast and the whole region on the road to long term recovery”.

The post Investment needed now more than ever first appeared on Neighbourhood Retailer.