Why has the Chambers Wharf development stopped?

There hasn't been any building work taking place on the Chambers Wharf development for months. I walked down Chambers Street today and there's no sign of anyone. Does anyone know why this is? I'm wondering if this is a scheduled pause or a result of the economy.

I'm purely speculating, but would guess it's indeed the economy.
Maybe they didn't start to sell any apartments at the right time and just stopped.

I was thinking the same about the building at Aldwich - opposite Hotel nr1 Aldwich.
It's been looking the same without progress for months and months now.

The formal decision notice granting planning permission has only been issued in the last week.

It seems that St Martin Property Corporation prevaricated about signing the section 106 agreement (payments to mitigate the impact of development on local residents) until the last possible moment.

Chambers Wharf was on the agenda for Tuesday night's planning committee with a recommendation that planning permission be refused because the s106 agreement hadn't been signed, despite the committee having voted in favour of granting permission several years ago.

Lo and behold the agreement was finally signed just before Tuesday's meeting and the council has issued the decision notice giving permission for the development.

James Hatts wrote:

The formal decision notice granting planning permission has only been issued in the last week.
It seems that St Martin Property Corporation prevaricated about signing the section 106 agreement (payments to mitigate the impact of development on local residents) until the last possible moment.

Chambers Wharf was on the agenda for Tuesday night's planning committee with a recommendation that planning permission be refused because the s106 agreement hadn't been signed, despite the committee having voted in favour of granting permission several years ago.

Lo and behold the agreement was finally signed just before Tuesday's meeting and the council has issue the decision notice giving permission for the development.

Thank you James - very interesting.
Do you know if the signed section 106 agreement is as originally proposed or if the developer has managed to reduce it in order to make the scheme 'viable' under current economic circumstances?