Paradise development ‘needs £100m’ to fund rising costs

Paradise scheme under construction in August 2018
The Paradise development needs an extra £100m to ensure it is completed as concerns about rising costs and governance emerge. The development is a joint venture between Birmingham City Council and Hermes Investment Management, but public sector responsibility for the scheme has now been passed to Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP). A statement from the Council said the change "enabled a more efficient and effective use of monitoring and governance resources". The problems were revealed by a... For the full story register now for free or login below...