Regional development agency One NorthEast, together with North Tyneside and Newcastle city councils intend to turn former industrial sites on the river Tyne in northeastern England, into retail and housing developments in an attempt to prompt business in the area and reverse its economic decline.
Regional development agency One NorthEast, together with North Tyneside and Newcastle city councils intend to turn former industrial sites on the river Tyne in northeastern England, into retail and housing developments in an attempt to prompt business in the area and reverse its economic decline.
The sites include six miles of riverside, abandoned by many of its long-standing and traditional occupants, notably shipbuilder Swan Hunter. The demise of Swan Hunter, which had been on the Tyne since the 1850s, came in the autumn when the Dutch owner Jaap Kroese announced its cranes were being sold off.
The local authorities and the property agency are now conducting a scoping study for the area to map out the best development options by March 2007. Nothing is ruled in or out, said North Tyneside’s mayor.
The prospect of housing and retail developments on the river bank created anxiety for the local industry, the Financial Times said. The marine engineering industries still thriving in the area are worried that the growth of shopping malls and houses could hamper operations and business expansion.