The Regeneration project, delivered through Barnsley's Housing Market Renewal Programme (HMR), will see the demolition of 190 non-traditional houses at Reema Estate completed and 900 mixed tenure homes built over a 15 to 20 year programme.
In June 2008 the council announced that it had selected a preferred bidder for the site. However, due to the recent global economic challenges and difficulties being faced in the housing market, it will be asking for a restatement of financial offers from the four developers who originally sought to deliver this major project for the Thurnscoe estate.
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Barnsley Council has taken this decision to ensure that the competition process that was used to select the developer in June 2008 can respond to the challenges presented by the downturn in the economy, thereby reducing the risk of challenge to the council and maximising opportunities for Thurnscoe.
Cllr Bill Newman Cabinet, Cabinet Spokesperson for Development, said: "By asking all of the original four bidders to resubmit their financial offer, taking into account the current economic climate, the council will be able to ensure that the Reema regeneration scheme is achieving maximum value for the people of Barnsley, underwritten by a robust contract."
This project is still a key strategic regeneration priority for the council and its partners and this delay is in response to the global economic downturn. However, a project of this size will see homes being built in the area for the next 15 to 20 years, during which time the housing market will have improved.
Following the restatement of financial offers a contract will be signed at the earliest opportunity this summer.
(CD/BMcC)
