Editing Preston, Lancashire (section)

===Proposed developments===
An £800 million<ref>{{cite web|url=http://www.lep.co.uk/travel/800-million-plan-could-cause.3805457.jp|title=£800 million plan could cause more traffic chaos|access-date=22 February 2008|archive-date=27 February 2008|archive-url=https://web.archive.org/web/20080227161152/http://www.lep.co.uk/travel/800-million-plan-could-cause.3805457.jp|url-status=dead}}</ref> regeneration project known as the [[Preston Tithebarn redevelopment|Tithebarn Project]] was also planned for Preston. The project was originally managed by property giants [[Grosvenor Group|Grosvenor]] and [[Lendlease]], Grosvenor withdrew from the project,<ref>{{cite web|url=http://www.lep.co.uk/news/-700m-Tithebarn-project-hit.5739827.jp|title=Tithebarn Project Hit by Grosvenor Withdrawal|access-date=9 April 2010|archive-date=19 October 2009|archive-url=https://web.archive.org/web/20091019120339/http://www.lep.co.uk/news/-700m-Tithebarn-project-hit.5739827.jp|url-status=dead}}</ref> followed a few years later by Lendlease. The project was dependent upon a number of requirements (such as the re-location of the current [[Preston bus station|bus station]], which would cost at least £25million, and be funded largely by the taxpayer).<ref>{{cite web|url=http://www.lep.co.uk/news/bus_station_s_soaring_cost_1_767368|title=Soaring Cost of Replacing Bus Station|access-date=14 May 2010|archive-date=18 May 2010|archive-url=https://web.archive.org/web/20100518121551/http://www.lep.co.uk/news/bus_station_s_soaring_cost_1_767368|url-status=dead}}</ref> In November 2011, it was announced that [[John Lewis & Partners|John Lewis]], who were originally intended to be the major flagship store of the Tithebarn development had also withdrawn from the project, effectively killing it.<ref>{{cite news
 | url=http://www.lep.co.uk/community/john-lewis-pull-out-of-preston-revamp-1-3931003
 | archive-url=https://archive.today/20130420220742/http://www.lep.co.uk/community/john-lewis-pull-out-of-preston-revamp-1-3931003
 | url-status=dead
 | archive-date=20 April 2013
 | title=John Lewis pull out of Preston revamp
 | newspaper=[[Lancashire Evening Post]]
 | date=17 November 2011
 | access-date=26 April 2012
 | location=Preston
}}</ref> The council is now exploring more piecemeal ways of bringing in development<ref>{{cite web|url=http://www.lep.co.uk/news/business/top-developer-is-still-in-the-frame-video-1-4490384|title=Top developer is still in the frame – VIDEO|work=lep.co.uk|access-date=30 April 2012|archive-date=14 April 2019|archive-url=https://web.archive.org/web/20190414081620/https://www.lep.co.uk/news/business/top-developer-is-still-in-the-frame-video-1-4490384|url-status=dead}}</ref> and former [[Labour Party (UK)|Labour leader]] [[Jeremy Corbyn]] praises Preston for its "inspiring innovation".<ref>{{cite news|url=https://www.theguardian.com/commentisfree/2018/jan/31/preston-hit-rock-bottom-took-back-control|title=In 2011 Preston hit rock bottom. Then it took back control.|newspaper=[[The Guardian]]|date=31 January 2018|access-date=8 January 2019|archive-date=9 January 2021|archive-url=https://web.archive.org/web/20210109145014/https://www.theguardian.com/commentisfree/2018/jan/31/preston-hit-rock-bottom-took-back-control|url-status=live}}</ref>

Since city status was awarded in 2002, Preston has been targeted by a number of developers. Residential developments were particularly popular with new apartments planned in and around the city centre. Many of these developments however are still struggling to find buyers for these apartments, and there are rising numbers of repossessions.<ref>{{cite web|url=http://www.lep.co.uk/news/Preston-The-city-of-ghosts.6205139.jp|archive-url=https://web.archive.org/web/20100409072212/http://www.lep.co.uk/news/Preston-The-city-of-ghosts.6205139.jp|archive-date=9 April 2010|title=Preston: City Of Ghosts|date=6 April 2010|access-date=26 February 2012}}</ref> Office and hotel space is also in demand and a new Central Business District is being planned as well as a number of new hotels.