Extra £17m needed for city centre redevelopment
Hull City CouncilA council is being asked to provide an extra £17m to plug a potential funding gap in a major redevelopment.
The Albion Square scheme will turn a derelict site in Hull city centre into homes, shops, offices and an urban park.
A report to Hull City Council's cabinet recommended that "up to £17m of capital funding is allocated to the project to support the potential shortfall between development cost and end value".
It also said the project would have to reapply for planning permission following the inclusion of an £18m Community Diagnostic Centre (CDC).
The NHS building is set to open in April and provide X-rays, MRIs and CT scans.
However, its addition "represents a material departure from the originally approved outline and reserved matters scheme; therefore, a revised application will need to be submitted for the Albion Square Development," the report said.
Other issues to be decided include whether to appoint a new development partner to finish the scheme, sell the site, or even end further work on it.
FaulknerBrowns Architects via HCCThe site includes a former BHS department store featuring a listed Three Ships mosaic mural by artist Alan Boyson, which must be incorporated into the scheme.
More than 600,000 tonnes of contaminated waste, including concrete blocks containing asbestos, has been removed from the former store.
Work on the £96m project began in 2022 and is expected to be completed by 2026.
The report will be discussed at a meeting next week.
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