More than 150 local residents attended a public meeting last week to share their views with Councillors, developer Henry Boot and Council officials.
Councillor Adrian Mahoney, Convener of Economic Development, said: "The Council shares the community's frustration that the initial proposals have not moved as quickly as we'd hoped. However, the economic downtown has had a major impact on commercial developments throughout the country, and inevitably this is the case with Denny Town Centre.
"Despite this, the project is moving forward. The planning application has been submitted, the acquisition process has started and, unlike many projects elsewhere, we still have a developer on board. We are looking closely at ways of accelerating progress and are confident that the best way to achieve this is by continuing to work with Henry Boot."
The scheme involves a £15m regeneration of Denny town centre with a two-storey development incorporating a 16,600ft² foodstore, new retail, offices, restaurant, library, residential units, upgraded road infrastructure and streetscape, including a new civic square.
-- Advertisement --
Councillor Mahoney said: "The Council appreciates that, for the community, the demolition of Church Walk will be the most powerful symbol of the town centre's regeneration. Unfortunately the economic conditions mean it is not financially viable for Henry Boot to proceed at this time and it would cost the Council at least £3m to do it independently."
Henry Boot Developments Ltd were appointed to progress the regeneration strategy in November 2005. An initial approach to market in 2003 failed to attract developer interest and the Council had to add five residential sites as a further incentive.
The Development Agreement was signed off by Henry Boot Developments and the Council on in May 2009 and an outline planning application was submitted in June. The Development Agreement sets out milestones to be achieved by Henry Boot. The next is in May 2011, by which stage Henry Boot is expected to have submitted an application for detailed planning consent.
Alongside this, the Council was awarded £487,000 for Denny from the Scottish Government Town Centre Regeneration Fund. This will fund improvements in the Denny Cross signalling system, upgrades to the shop frontages on the east side of Stirling Street and acquisition of privately owned vacant property in the Church Walk Blocks. All three projects are progressing and programmed for completion by the end of April. Delivery of these projects will reduce key obstacles to the regeneration project, reduce overall costs and help accelerate delivery.
Councillor Dr Alex Waddell, Chair of the Denny Town Centre Development Group added "We are keen to see the scheme we have prepared with Henry Boot come forward as quickly as possible. It has been subject to extensive community involvement with two major rounds of consultation on the scheme during 2006/7 and 2007/8.
"The finalised scheme and steps being undertaken were outlined to the local community regularly through press articles, a newsletter issued to every household and at regular meetings our group. It is extremely frustrating that it has been delayed, however we are considering all possible means to accelerate its delivery."
(GK/BMcC)
