Stevenage Borough Council is exploring further opportunities for regenerating the town centre following Stevenage Regeneration Limited’s (SRL) decision to no longer actively progress its plans for the development.
Because of continuing adverse economic conditions, Stevenage Borough Council and SRL have agreed that their exclusivity arrangements will not be extended further. The council has now started to explore alternative opportunities to promote the regeneration of the town centre.
Cllr Sharon Taylor, Leader of Stevenage Borough Council, said, “It is disappointing that, due to market conditions, our partnership was unable to deliver SRL’s scheme but we appreciate the support that SRL have provided to date and understand that the recession has forced them to make this difficult commercial decision.
“However, regenerating the town centre is critical to the future of Stevenage and remains a key priority for the council. We are, therefore, actively and urgently considering a number of options to bring forward new opportunities for development.”
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The information contained in this press release was correct on the date of issue.