A major decision on the future of the long-delayed arena and conference centre planned for Gateshead Quayside has been pushed back into next year. The North East mayor's office has confirmed that its review into whether the multi-million-pound development can still go ahead, and in what form, has not yet concluded.
00:00The North East Mayor's office has confirmed that its review into the Stalled Riverside project is not yet complete, despite hopes that an update would be announced over the summer.
00:10The scheme, known as The Sage, was once billed as a world-class leisure and events complex on fine land between the Glasshouse Music Centre and the Baltic Art Gallery.
00:19Construction had originally been due to begin in autumn 2023, but spiralling costs forced the plans to a standstill.
00:26The project's estimated bill has grown dramatically, from an initial £260 million to more than £350 million by early 2023, with suggestions that the figure has risen even higher since.
00:39With no building work yet started on the prominent Quayside site, the North East Combined Authority stepped in earlier this year to reassess the scheme and examine market demand for a development of such size.
00:50Funding from the authority has allowed Gateshead Council to work with specialist advisors on the review, which is now expected to conclude early in the new year.
01:00In a statement, the Mayor's office said it remained committed to supporting Gateshead Council to determine the best way forward, adding that the shared ambition is still to create world-class cultural assets that will strengthen the region's reputation as a major destination for culture and tourism.
01:16Mayor Kim McGuinness said earlier this year that she remained confident in the plan, but with a funding gap of less than £100 million still to be resolved, council leaders are weighing up all options, including the possibility of scaling down the project to make it more financially viable.
01:32The council has also faced criticism for proceeding with the construction of a £23 million multi-storey car park intended to serve the new venue, despite uncertainty over whether the arena will ever be built.
01:44Mayor Kim McGuinness said earlier this year, the director of the award is a new one of the years, in terms of reducing its quality and
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