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Hotel and Housing Project at Risk, Deputy Warns

A £120m development in Jersey could be in "jeopardy" over profit concerns, the States Assembly has heard.

About 15% of the units, across more than two acres of land between Broad Street and Commercial Street, are proposed to be affordable homes.

Speaking in the assembly, Deputy Max Andrews told Chief Minister Lyndon Farnham he had become aware of the project being in "jeopardy because of no profit being achievable".

'End of the road'

Brian McCarthy, the managing director of developer Le Masurier, said it could be the "end of the road" if a planning consent permit was not issued.

Mr McCarthy said a position needed to be agreed with the minister for housing and communities. A planning obligation agreement must be completed by 29 June for the development to go ahead, he added.

One of the conditions are to agree an assisted purchase framework with the housing minister, he said. Mr McCarthy said the firm had proposed offering 10% shared purchase equity for 36 units of housing - a contribution of £1.6m.

He said further contributions would go towards improvements in the public space, including walking and cycling routes and children's play areas, bringing the total contribution to more than £2m.

Mr Farnham said he was aware of the issues and the housing minister would soon be having discussions with Le Masurier.

Housing Minister Sam Mézec declined to comment further while the matter was ongoing.


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