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