A DECISION on a bid to secure £5 million needed for the Crescent project is expected to be made in the next few weeks.
Funding had been expected from the East Midlands Development Agency towards the £32 million redevelopment but the organisation is to be scrapped so an alternative source of funding needs to be secured.
Now a development consortium including Trevor Osborne Property, together with Derbyshire County Council and High Peak Borough Council, are awaiting the outcome of the bid made to the new £1.4 billion Regional Growth Fund.
Trevor Osborne told members of Vision Buxton this week that if the news was positive then the schedule of work could start very quickly, as the original planning applications and drawings did not need to be drawn up afresh, merely amended.
The first stage of work would include the demolition of the St Anne’s Dining Room and some of the later additions to the rear of the a Grade I Listed building.
He explained some of the technical detail of how the source of Buxton Mineral Water, bottled by Nestlé, would be kept separate and that this work would be carried out regardless of the outcome of the funding application.
The first round of bids for a share of £500 million from the Regional Growth Fund was massively oversubscribed.
A total of 464 bids were made with a total value of £2.78 billion.
The long-awaited project intends to transform the Crescent into a hotel and spa complex, with eight specialist shops, a visitor interpretation centre, and a tea room in the Pump Room.