Crunch holds up Failsworth plans

Failsworth £30m Redevelopment and regeneration

AN ambitious £30 million regeneration plan for Failsworth town centre has been put on hold because of the credit crunch.

Work on a new district town centre, including an 11-storey canalside block of flats, 150 one and two-bed flats and new shops, should have started in June.

Now, those plans have been put on hold and could be scaled back due to the economic climate.

And the community centre, to be built with money raised from the flats, faces further delay.

John Mitchell, service director of the property development team, said: “It is very unlikely that that original scheme will be viable and we would not be able to get developers interested.

“We now have to look at other options, such as waiting for the market to improve, and how we can take the next phase forward.”

Mr Mitchell said councillors and members of the Oldham Property Partnership (OPP) would make a decision on how to progress within the next month.

The new proposals were due to be submitted to the council’s November cabinet meeting for approval.

Mr Mitchell reassured residents that whatever the outcome, a community centre would be built.

He said: “It will be central to the decision, and there will still be a significant development, one of huge benefit to the community.”

The plans were the second phase in the Failsworth scheme, which previously saw the creation of a new Tesco store, canal refurbishment and a health centre.

Jim McMahon, the leader of the Labour group and a councillor for Failsworth East, called for the council to fund the community centre.

He said: “We accept the housing development was going to fund a large part of the scheme. The council should underwrite its cost, to be recouped when the housing market picks up.

“Oldham Council has made money by the sheer amount of time it has been sitting on the site.

“Residents should have a community centre to be proud of — a landmark for the town centre.

“It is disappointing that in the short term that it is not going to happen, but Failsworth is still a desirable area.”