Gateshead’s council leader hints at a spring announcement for the long-awaited conference centre construction, promising a boost for the local economy.
Gateshead: Exciting news is brewing about the long-awaited conference centre. The council leader, Martin Gannon, says they’re close to sealing the deal for construction. He expects to announce it very soon, likely in spring.
This project has been in the works for years. It’s meant to be a world-class venue on the Quayside. Investors are still on board, which is a good sign. The North East mayor might even pitch in some cash to help with funding.
Two years ago, the project’s cost jumped from £260 million to over £350 million. And it seems like it’s gone up even more since then. The rising construction costs are a real challenge.
They’ve already cleared a big area between the Glasshouse music centre and the Baltic art gallery for this new development, called the Sage. People are getting frustrated since construction was supposed to start last autumn.
Gannon mentioned that there’s a significant funding gap that needs to be filled. They’re in talks with the combined authority, which is likely to help out. He’s hopeful they can announce the start of construction soon.
He’s previously promised that the conference centre will be built, but he’s less certain about the 12,500-seat arena. The plan is to focus on the conference centre first, as it’s seen as a priority.
Gannon also noted that interest rates and construction costs are rising, making this project quite ambitious. But everyone involved is still committed, from private funders to developers.
It’s a popular project, and they’re confident they’ll soon have the financial package ready to go. This is the fourth attempt to redevelop this land, and it hasn’t been easy. But they’re determined to make it happen for Gateshead and the region.
North East mayor Kim McGuinness supports the Quays development but hasn’t committed to funding like she has for other projects. The combined authority believes a convention centre could significantly boost the local economy and create jobs.
They’re working with Gateshead Council to develop a revised business case to move the project forward. It’s hoped this development could bring a £70 million boost and create around 2,000 jobs.
