The decontamination of Fort George is expected to be finished late next year after which the site will be marketed to third party businesses.
Social Development Minister Nelson McCausland said it will be over a decade before the site is fully developed.
Mr McCausland also revealed there will be four separate mixed-use developments on the site: one at the riverfront and the Pennyburn; one at the Strand Road; one at the south of the former barracks; and one at the Project Kelvin telecommunications house building.
SDLP MLA Colum Eastwood asked the Minister to provide details of the plans for Fort George, apart from the North West Regional Science Park, which is due to be completed by July.
Mr McCausland said his Department’s immediate priority was to secure Outline Planning Permission for the Development Framework.
“An anticipated timeframe of 10-15 years to fully develop the site is identified in the Development Framework. Once Outline Planning Permission is in place the next steps will be to: remediate the contamination on the site; undertake infrastructure works to improve access to the site and service the developable plots; and secure third party interest in developing the plots.”
The Minister said the remediation works should be complete by late 2015 enabling infrastructure works and marketing of the site to then begin.
He explained: “The further development phases planned for the site are; a mixed use development on the Riverfront at the Pennyburn Inlet; a multi storey car park; a mixed use development at the Southern portion of the site; a mixed use development on the Strand Road frontage; and a mixed use development adjacent to the Hibernia building where the Project Kelvin Telehouse is located.”