DSD has awarded the project a grant of £256,000 under its pilot Urban Development Grant programme. The programme is aimed at schemes at landmark locations and of historic interest in selected regional towns, which can be restored and redeveloped by the private sector for new uses.
The funding will be used by developers Hebron Properties to help refurbish the art deco building to provide retail units on the ground floor with office suites above for rent. When complete, the project is expected to provide six new full-time and eight part-time jobs, as well as lead to further private sector investment in Larne town centre.
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Welcoming the news that work on the project will start soon, Social Development Minister Margaret Ritchie said: "I am pleased to be able to support the transformation of this landmark building and look forward to the commencement of work. Due to its prominent location on Main Street, the restoration has the potential to create a very positive impact on the appearance of the commercial core of the town. This in turn will encourage investment in Larne and further increase the confidence of people living and working in the town.”
Urban Development Grants have previously only been available in parts of Belfast and Londonderry. This pilot scheme extends this programme to five other towns in Northern Ireland – Ballymoney, Dungannon, Larne, Lurgan and Strabane. The project in Larne is the first to receive funding, and it is expected that grants worth around £1million will be allocated during this financial year.
(LC)
