Glasgow City Council approves George Square development cash

Glasgow City Council’s approved £648,000 of funding for a private developer for a project close to George Square.

The Love Loan development – at the former Parish Halls building, on the north-east corner of George Square - will feature a 245 bed hotel, apartments and office space.

The cash has been awarded to the Chris Stewart Group to develop the scheme.

The company arugued the project came with challenges from restoring old, listed properties, and the fall in values in the retail and leisure market use, which could put the whole scheme at risk.

The council admits it's an unusual step to give public money to a private contractor, but says it was the most cost-effective option. If the local authority had chosen to adopt the area itself, it would have become liable for the maintenance costs.

Councillor Kenny McLean, City Convener for Neighbourhoods, Housing and Public Realm, said: “The funding of the public realm and lane refurbishment will not only create an attractive new public space in the city centre, but improve connectivity between key locations such as Queen Street Station, George Square and the University of Strathclyde and Glasgow City Innovation District.

"The wider development will contribute to the wider strategy for the city centre as we emerge into a period of economic renewal.”

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