Hammerson announced last week that building work on the planned new £600 million shopping district would not start until next summer. It had originally been scheduled to begin at the start of 2009.

The developers insist the reason for the delay is hold ups in completing the compulsory purchase of properties within the boundaries of the NRQ.

But The Green Party say they believe the firm is hedging its bets because of the worsening economic climate.

Coun Jillian Creasy, who represents Central ward, called for a "complete rethink" of the scheme in light of the changing financial climate, with the emphasis on affordable housing and local businesses.

Coun Creasy said: "We are not surprised at the news that Hammersons wish to delay the start of this giant shopping centre. We are facing a triple crunch of credit-fuelled financial crisis, accelerating climate change and soaring energy prices." She also warned against accepting any changes to the plan further down the road - "The council must not accept a cheapskate version of the same plan, especially if economies are made at the expense of public realm and 'green' features.

"The best thing that could happen is for a complete rethink of the New Retail Quarter project and the City Centre Masterplan. We believe new developments should be future-proof.

"The global economy is increasingly volatile, so new buildings should be capable of accommodating locally-owned businesses and shops, not designed purely for chain stores.

"There should be affordable housing, community facilities and new green spaces, not just one and two-bed luxury apartments overlooking shopping malls. We need to start again with a people-centred, not profit-centred planning process which will come up with solutions fit for the very different challenges of the 21st century."

Last week Hammerson said they would "take a prudent approach to all new developments given current market conditions". The firm declined to comment further on The Green Party's claims.



What do you think? Add your comments below
More:
Appointments
Business
Business Calendar
News