Work will continue to regenerate East Cowes, even though developer David Wilson Homes has pulled out of the project. That's according to English Partnerships.
It says construction on a multi-million pound road linking Old Road with Well Road will start next month. Area Director David Ashworth said: “Progress on the project will represent a very visible sign that the development is underway. We intend to use the time between now and when a developer is appointed to the GKN site to have as much infrastructure in place as possible."
“We have been working hard to retain developer interest in the GKN site. In recognition of the changed market circumstances we are having discussions with our partners to review options available. English Partnerships is looking at ways to assist the industry. This may be via setting up more joint ventures and releasing smaller parcels of land, or assisting in other ways. At present we do not have firm developer commitment however we are committed to providing housing on the site and promoting the island to generate interest in the development.”