AROUND £6 million worth of funding has been secured to continue the transformation of the Market area of South Belfast.
The funding, which has been provided by a number of different bodies, was announced by the Market Development Association (MDA) at an event in St Malachy's Youth Centre on Wednesday.
The completion of Phase I and II of 'Making The Difference: The Market Community Transformation Initiative' (CIT) was also marked with the launch of a special document detailing completed work and projects in the area since 2017.
At the event, Fionntán Hargey from the Market Development Association revealed that around £6 million of funding has been secured to complete the next two phases of the CIT.
The latest funding announcement is spearheaded by £2m from The Executive Office which will push MDA’s ‘flagship’ Tunnels Project over the line.
Plans for the eight disused tunnels below East Bridge Street include a gym, restaurant-bar and community facilities as well as a walkway to improve connectivity between the Market and the city centre.
FUNDING SECURED: The Market tunnels
£1.7m has been secured from the National Lottery Community Fund for Phase III of Community Transformation Initiative, which will be used to expand MDA's working capacity and wider community infrastructure, including job creation.
An additional £300,000 from the Community Ownership Fund has been secured, alongside £500,000 from Belfast City Council, for the purchase of the old Convent School on Sussex Place.
It is planned to be turned into a Market Heritage Hub, with plans for a potential adjoining Tenement Museum. The handover of the building to MDA is expected to be complete before the end of this year.
A further £1 million has been secured to support the new Radius Housing housing development at the Gasworks. Work is well underway on 94 homes and apartments, which should see families move in before the end of 2025.
The final pot of money is the £1m which has already been announced for the Community Research Network in association with Queen’s University and other inner-city communities from the UK Research Institute.
Speaking at the funding launch and celebration event on Wednesday, First Minister Michelle O'Neill praised everyone involved in the Market transformation project.
"What has been achieved and what is still be achieved for this area is both compelling and inspiring," she said.
"I know the sense of community is strong here. People's quality of life matters and that is what is being achieved in the Market and has to be commended.
"I think what has been achieved here can be a blueprint for other areas. I look forward to seeing all the exciting new projects come to fruition.
"I want to praise Market Development Association, local residents and the funders for their hard work in transforming this area for the better."
