Project delays cost $655,000

Delays to the Dunedin City Council's Wall Street develop ment in George St have cost the project $655,000 in lost rental and servicing costs.

The $34 million retail development was originally scheduled to open in October this year, but a report prepared for this week's annual plan hearings said ‘‘a couple of significant delays'' had resulted in a revised opening date of early next year.

The delays, the committee heard, were due to ground conditions at the site and the archaeological work required.

The council's property department asked for the $655,000 from the council's budget, but the hearings com mittee voted the department should look within its own budget to make up the short fall.

 Council finance and corpor ate support general manager Athol Stephens said he expected the matter would come before the council again at a meeting on May 26.