UNCERTAINTY surrounds plans for a £110m shopping complex in Darlington town centre following an announcement by the construction company that funding for the scheme is being re-appraised.
Discovery Properties had scheduled work on the The Oval shopping mall to begin in January 2009, but this week a spokesman refused to confirm a start date.
He said: "In light of the current economic climate, we are re-appraising the funding requirements of this project, but remain positive and committed to The Oval. We continue to receive support from retailers and other operators wishing to take space at the scheme."
Coun John Williams, leader of Darlington Borough Council, said: "I have expressed my concern about the prospects for The Oval development.
"Everyone is aware of the serious global financial problems and I am worried that this will have a knock-on effect with regards to this scheme.
"However, there is nothing that the council or indeed anyone else can do about the situation. Everyone is just hoping for the best that the scheme goes ahead."
Plans for the retail centre in Commercial Street feature more than 30 new shops, bars, restaurants and a nine-screen multiplex cinema.
The development is seen as key to the revival of Darlington's economy. When plans were announced in 2006, Discovery Properties' chief executive Hugo Hawkins said the scheme would dramatically improve the town centre by creating an "attractive modern retail and leisure space" which would attract a host of big name retailers.
Mike Barker, a trader in Darlington for more than 20 years, said: "Darlington needs this development. It looks like The Oval project will be delayed. I'm not saying things are all doom and gloom, but it seems that this has been going on for a very long time.
"I am in favour of the development. I think it will be a good way to get large shops into the town centre, and the amount of leisure facilities proposed will be good for the people of this town.
"It seems that this has been going on for years.
"We seem to be at the mercy of the developers and the world markets. We are entirely in the hands of forces beyond the control of anyone in Darlington."
A council spokeswoman said: "The international financial situation means bringing forward any development is more difficult than it was a year ago. The developers are still working hard to bring the development to fruition as soon as possible."
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