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He thought the absence of private developer involvement among the Cressingham Gardens options was a "massive step forward".
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"No private developer could have done that.
Recently, a private developer bought the structure.
The private developer, he concluded, was not a "plannable instrument".
And that's what a private developer will do".
Renovation was handed to a private developer, Urban Splash.
"How could they do that for a private developer?
"Working with a private developer, the project must provide a return for its investors," he said.
"You would never build this if you were a private developer," Mr. Ward said.
Terms are expected to be agreed with the private developer within the next eight weeks.
–Emaar Properties, the largest land and real estate developer in the Gulf region, last year paid $1.05 billion in cash for the second largest U.S. private developer.
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