The Director of City Development submitted a report providing an update on the current position regarding the development of the Eastgate Phase 2 site and which presented the key next steps requiring the Council’s approval which looked to ensure that this regeneration opportunity could proceed in a deliverable way.
In presenting the report, the Executive Member provided an update on the current position regarding Phase 2 of the development and highlighted the changing property market conditions which the proposals within the report were looking to respond to.
The Board welcomed the report, with a Member suggesting that the potential for residential provision be explored as part of any future Phase 2 development.
The Chief Executive provided further context on the engagement which had taken place with key partners and the approach which had been taken over the past decade to successfully reconfigure the retail offer in the city. It was also highlighted that the proposals within the report provided an opportunity to complement what had been achieved with a mixed use development.
Following consideration of Appendix 1 to the submitted report designated as being exempt from publication under the provisions of Access to Information Procedure Rule 10.4(3), which was considered in private at the conclusion of the public part of the meeting, it was
RESOLVED – That approval be granted to:-
(a) Progress the heads of terms, as outlined within the submitted report; and
(b) Delegate to the Director of City Development (in consultation with the Executive Member for Resources) the ratification of the final details and any further amendments to the terms agreed and to the developer selected by Hammerson.