A feasibility study into the development of a commercial hub in the Andersonstown Gateway Area, which includes the former Barracks site, has been launched.
The study will look into economic development opportunities for the area.
The Assembly's Social Development Minister Margaret Ritchie said economic regeneration is an important stimulus to areas "blighted by deprivation and low levels of achievement."
"The West Belfast and Greater Shankill Task Forces signalled the need for a comprehensive approach to economic regeneration and recognised that West Belfast risked falling behind the rest of the city if inward investment and the growth of local businesses were not adequately addressed. This need is also reflected in the emerging Neighbourhood Renewal Action Plans from West Belfast." Ms Ritchie said.
The minister said her department will be contacting the community in the vicinity of the former Andersonstown Barracks in the immediate future to see how best to assist them in raising particular concerns which they may wish to voice.
The former Andersonstown Barracks was closed in 2005 and later demolished. Earlier this month residents staged a series of protests against plans for an apartment development on the site.
(GK/JM)
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