Proposals on table for £200m Gresham regen rescue
The Crown Square scheme in Middlesbrough has been on hold since October due to viability concerns and now six options have been laid out to attempt to revive the project, which was originally due to deliver more than 1,500 homes and a new city gateway.
Developers iMpeC and Buccleuch Property are jointly managing the work, alongside Middlesbrough Development Corporation.
Wates was announced as the lead contractor for the project in 2024, and started on site in July last year.
Initial plans, which were designed by Corstorphine & Wright, saw phase one comprising 240 BTR flats, a 450-bed PBSA, and a 200-bed Fairfield by Marriott hotel.
The hotel was supposed to complete by mid-2027, with the rest of phase one completing by early 2028.
Now, the six options being put forward to rescue the scheme primarily focus on cost saving measures, with MDC indicating it will reach a decision by the end of March.
- Reducing the building heights to save money
- Building two- and three-storey homes, as well as apartments aimed at young professionals
- Pause construction of the housing and focus on building the hotel, potentially making it a smaller 150-bed establishment
- Scrapping plans for the hotel altogether, along with the PBSA, and building more residential
- Exploring additional funding from Homes England and other private sector partners
- Selling the site to private investors
The scheme was given the green light back in April last year, following a nil-value land transfer from Middlesbrough Council to its development arm, Middlesbrough Development Corporation.
