Cardiff Bay Prospect Place Tower Development to Restart

Thursday, 6th September 2012
    Bellway Homes has applied to restart work on the Prospect Place tower development. The building was supposed to be a landmark 17-storey apartment tower offering sweeping views of Cardiff Bay. But when the credit crunch hit in 2008, the market for new apartments dried up and construction was halted. After the builders walked away all that remained was a part-built, six-storey concrete frame on a prime piece of real estate as a symbol of the impact of the global financial crisis on Cardiff.   Now the company behind the Prospect Place development has revealed it wants to restart work on its mothballed 76-flat tower. And Bellway Homes said its decision was a sign of renewed hope that Cardiff’s housing market will improve.  

The company has applied to Cardiff Council to amend the layout of the tower, known as Block T, to change 10 of the apartments from one-bedroom to two-bedroom. If approved, an extra 25 car parking spaces and 38 bicycle storage spaces will also be added to the scheme.

 

Bellway’s corporate affairs manager Julian Kenyon said that if the proposed changes are approved, work would restart on the tower early next year. He said: “Following the completion of our successful Quayside development we wanted to maintain momentum in Cardiff Bay, and we are confident that the level of demand will support the completion of this landmark building at Prospect Place.”

 

The move comes only months after plans for the neighbouring £200m Cardiff Pointe development were submitted by Greenbank Partnerships. Under those plans to go before the council in the autumn, 634 houses and apartments will rise up on the peninsula next to the International Sports Village (ISV).

 

Cardiff Pointe will feature two landmark towers, standing 18 and 24 storeys, and 10 five-bedroom waterside houses – each with a £1m price tag. The development also includes proposals for two social housing schemes, made up of 217 apartments, on separate sites nearby.

 

If approved, the first would see 156 social housing apartments built on a site known as the ISV Office, opposite the Victoria Wharf apartment towers on Watkiss Way. A further 61 units would rise next to Morrisons supermarket on Ferry Road.