Funding approved for Glasgow's Buchanan Quarter
October 25 2012
Works entail public realm improvements to George Square and Upper Dundas Street as well as upgrades to the Royal Concert Hall, Buchanan Galleries and Queen Street Station.
Deputy first minister Nicola Sturgeon said: “This development will continue the regeneration of the city centre, improving the public spaces and creating modern, vibrant new facilities that will cement Glasgow’s position as a major international destination for visitors.”
Peter Reekie, director of finance at the Scottish Futures Trust, added: “The approval of the Buchanan Quarter project demonstrates what TIF is all about – delivering significant investment in infrastructure alongside private development commitment; creating economic activity and jobs in what remain difficult times.”
Glasgow City Council gave their approval to the financing arrangement, which entails public borrowing against future business rates, back in April.
Back to October 2012
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