Property News - Coventry plan completed

Coventry's£50 million Phoenix Initiative, which commenced in 1999 and was jointly funded by the Millennium Commission and Coventry City Council, has been completed. It transforms a previously run-down area, into public gardens, civic squares, residential accommodation, and a retail and restaurant quarter, as well as a road and pedestrian network. Geoff Brown, managing director at project manager Ashgate Development Services, said: 'We have been instrumental in creating a substantial land value premium, where none previously existed.'