AMBITIOUS plans to redevelop a central part of Chester have had to be abandoned because of the credit crunch.
Developer ING and its partner, Land Securities, have told Cheshire West and Chester Council (CWAC) that the scheme cannot go ahead in its current form due to the current economic climate.
The council is now awaiting new plans for the Northgate Development, which are expected next May.
The new timetable for the scheme was revealed by Cllr Herbert Manley, Executive Member for Prosperity.
The initial Northgate scheme included a new department store, shopping streets, market, and theatre.
ING and Land Securities, in partnership with the council, are now reviewing this scheme to produce alternative proposals.
Cllr Manley said: “It’s expected that the revised plans will be defined by May next year and, subject to a partnership agreement, the scheme can be progressed to the next stage with a wider consultation on the proposals.
