Although it was looking promising, The Quarter, a new four-phase scheme in Liverpool near Sefton Street that will feature a 22 storey tower has currently ground to a halt with no work being carried out on site.
First proposed in 2005, it is being developed by Vermont with the scheme design coming from Falconer Chester who dreamed up a curving tower that responds to the prominent corner it will overlook on the corner of Sefton Street and Parliament Street.
Having begun construction in early 2007, Phase One, a residential apartment building has already been completed and The Quarter was looking at becoming a success with 83% of the first two phases of the 187 apartments it would offer sold off plan.
This figure would be further supplemented by a 20 year deal that was signed by CHI Hotels to manage 66 of the 112 apartments within the tower section to complement the planned 145 bedroom Ramada Hotel that will make up the other part of Phase Three.
Despite this success, work has been halted on the existing construction on site with a half built steel frame standing there. There's currently no indication of when it will restart but with healthy sales figures and a management deal signed the developer will be keen to get back to work as soon it as possible although issues with insolvency of some parts of their business have forced them to show the independence of The Quarter.
It just goes to show that even seemingly healthy developments can often struggle to completion in the face of falling property prices that reduce the value of the investments made by the bank.
was quite relaxed to start off with until the apartment block next to us decided to throw a party on the balcony
its become a bit of an eyesore now with being derelict for so long
visited with a fellow explorer (back in april this year)
paul ontop of the lift shaft