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Work has begun on the £45 million development for one of the last remaining sites on Lanyon Place, close to the Waterfront Hall and Hilton Hotel.
Social Development Minister Margaret Ritchie announced that the new building, developed by William Ewart Properties and know as Lanyon Towers, will be a mixed office, residential and leisure development.
"This new building represents a further phase in the regeneration of Belfast. It will add another prestigious development to this area, almost completes the complex around the Waterfront Hall and will act as a further lever for economic development,” the Minister said.
When completed the development will comprise 90,000 square feet of office space, 5,500 sq ft of bar and restaurant facilities, 104 quality residential suites and an underground car park for 135 vehicles.
Emphasising the importance of the development to the regeneration of the city centre, the Minister said: "Integrating the riverfront with the city centre and nearby communities is an important feature of the Belfast City Centre Regeneration Framework and remains a key priority for my department."
The development is due to be completed in autumn 2009 and it is estimated that 250 jobs will be created during the construction period. The Minister added: "In addition to making the city a more attractive place to live, work and visit, such regeneration also contributes to the development and growth of the local economy. Lanyon Towers is an excellent example of the with £45m investment to our economy."
Nick Reid, Chief Executive of William Ewart Properties, said: "Having invested over £100m on Lanyon Place already, we are delighted to take this next step to build out the second last plot within Belfast’s most prestigious address. Our commitment and delivering on the regeneration potential of Belfast is very important to Ewart.
"Our role in this scheme and in our proposed Royal Exchange development of the North East Quarter of the Belfast City Centre are just two examples of the £1bn worth of development we will be delivering in our capital city over the next 10 years."
(JM)
