I WAS encouraged to see that Peel has submitted its planning application for Liverpool Waters.

It is easy to be cynical in these recessionary times about these applications, and as to where the investment and indeed the population of these schemes will come from, but I admire Peel’s vision and grand plan and think it very timely.

Liverpool is a city in the midst of a renaissance. The facelift and investment that the city has received over the last decade has been incredible.

The success of Liverpool One, and Liverpool’s overall shopping profile, the Echo Arena and BT Convention Centre, the improving infrastructure, the ongoing cultural programme and the cruise liner terminal have brought visitors here in their thousands.

We now have an abundance of attractions to draw in visitors. We have a great choice of restaurants, with new ones like Viva Brazil on Castle Street opening all the time, and a demand for hotel rooms that seems almost insatiable. The ACC has proven itself world- class – who would have thought a few years ago that we would be hosting major political party conferences?

There were initial worries that Liverpool One would kill off Liverpool’s traditional shopping areas, but this has not been the case. There have been some casualties, but these may have happened in any event, and values and trends will continue to challenge landlords and occupiers, some of whom may be fettered by the financial institutions and their inability to accept losses.

Liverpool One is evidence that the city should not fear but embrace and encourage change, and it is exciting that Merepark’s Central Village is still planned.

It will be interesting to see how St John’s Centre and Clayton Square respond to the growing competition. Plans for Project Jennifer, the regeneration of the Great Homer Street area to the north of the city centre, will transform the area providing a new 80,000 sq ft retail development in addition to 110,000 sq ft Sainsbury’s store creating jobs and greater economic activity.

I am optimistic that the city is well prepared to come out of the recession ahead of the pack. Liverpool Waters will provide opportunity for the city to grow. Who knows, as the former northern docks were once our gateway to America, perhaps Liverpool Waters will be our gateway to China and the other emerging economies?