Frank Gehry`s controversial scheme for the Hove sea front has been thrown into doubt because of the credit crunch.Karis,the developer of the £290 million scheme to build 750 apartments and aleisure centre, admitted on Tuesday that the economic downturn couldscupper the project.Managing director Josh Aghiros told BD: "Atthe moment, due to the economic climate as it is, we’re doing aviability study. There’s no conclusion. All options are open."With the way house prices are any major development in the country is in this position."Thescheme was granted planning permission on the casting vote of thechairman of the Brighton & Hove Council planning committee in March2007 after local opposition to the scale of the development. OnTuesday, Gehry confirmed his involvement with the project was over. Inan interview in the Guardian with BD columnist Jonathan Glancey, hesaid: "Don’t go there. It was a painful experience. I guess I never didunderstand your planning system and all those interfering governmentdesign advisers."Aghiros commented that the King Alfred project was not the sort of scheme Gehry was used to working on. "Themajor projects that Frank Gehry has done have been funded byphilanthropists, or institutions," he said. “This is a commercialproposition that needs to stand on its own feet. If it’s viable we’llproceed.”Aghiros said a final decision about the future of the project would be made by the end of July.
www.bdonline.co.uk/story.asp?sectioncode=725&storycode=3117279&c=1