The grand plans for reinventing the commercial landscape of Leeds seem to have met a hurdle in form of the recessive economic trend. A futuristic programme for transforming Leeds into an international city unveiled about six years ago appears to have hit a series of roadblocks, which have ensured that the city today is not much different from what it was then.
Leeds city centre was looked upon as the dream location for aspiring businesses, until the recession set in. With downward spiralling prices and fall in business opportunities, the plan never had a chance to win a foothold among the business community. The agency behind the development does not have much progress to show today.
About 3000 new homes were to be built in a proposed residential development encompassing new residences in a waterside village. This was to be developed alongside a business centre with shared office and commercial establishments. The two developments in conjunction were expected to generate huge economic growth in the area.
Plans for business development of areas identified to the south of Wellington Street and north of the railway line have not materialised as expected. Of the seven projects proposed and planned for, most have been discarded or postponed owing to the recessive economy and lack of funding.
A mere two of these seven have seen completion and full utilisation. These are the West Point development adjacent to Wellington Street, and City Island. While these were received very well by the business circles and general public alike, it is important to note that that the projects were finished and ready for use before the recession hit the market.
Social Bookmarking
These icons link to social bookmarking sites where readers can share and discover new web pages.
