The Buxton Crescent Redevelopment Project has hit a major setback after being turned for an application for monies from the Regional Growth Fund. The project organisers had applied for approximately £4m.
The money was required to fill a hole left in the project funding that had been expected to come from East Midlands Develpment Agency (EMDA). With the disolution of EMDA it was hoped that this high profile project would receive the support it needed.
The High Peak has been named as one of the Governments “Super Destinations” of British tourism and developing Buxton as a Spa Town should have a key part of develping that.
Trevor Osborn of The Osborne Group said “This Project is so important to Buxton’s future that every effort must be made to find a way forward. The loss of this funding is a considerable set back which we are addressing with as much energy and enterprise as possible”.
CP Holdings and The Osbourne Group have stated that they are hugely disappointed that the RGF funding bid was unsuccessful. The gap left by the disbandment of the Regional Development Agency must be filled if the Project is to proceed. We will, of course, work closely with the County Council and High Peak to find other sources.
This is a huge blow for the High Peak not just Buxton, the knock on effect of a new spa town and its attractions would surely have brought new tourism into the whole area.
A Borough Council spokesperson said: “We are disappointed that our funding bid was not successful in Round 1 but understand that at this stage preference has gone to disadvantaged areas. Recently we were awarded £500,000 by English Heritage and we will be discussing all funding streams with our partners, including our invitation to apply to the larger main round where we are more hopeful of success at this stage.
“Throughout this project there have been many obstacles, most of which have now been overcome and, through the commitment of partners, we are determined to see the delivery of the £32 million spa hotel development”.
