HOPES are high that a key city centre development that has been put on ice for more than three years can finally get under way.
The Glassfields scheme on Temple Way was shelved in 2008 at the height of the recession and the site has been left standing empty ever since.
But following the announcement that the surrounding area is to make up the new Enterprise Zone hopes are high that building work will finally begin.
The owners of the site, Royal London Asset Management (RLAM), have started marketing the project to developers and have also released images of what the building will eventually look like.
The Glassfields building is seen as a key site because it will act as the gateway to the new business district of Bristol. The Enterprise Zone will be a centre for digital and creative firms and is expected to create around 17,000 new jobs.
The 350,000 square foot mixed-use development will include shops, offices and cafes along with a hotel and it will be one of the biggest developments in the city in recent years.
There are also plans to redevelop the area next to the two buildings to create a new landscaped square.
The distinctive IBM building on Temple Way was demolished three years ago. The building, which had a distinctive brown glass facade, had been standing empty for five years before being knocked down.
The new images are the most detailed released by RLAM since the firm successfully applied for planning permission in 2007.
The developer has said it wants to create the highest quality office space to attract the widest range of potential occupiers possible.
Property firms Knight Frank and Jones Lang LaSalle have been appointed to market the site and there are high hopes that the main part of the building will be used as a headquarters for a large company.
As reported in the Post the Homes and Communities Agency has announced it is investing £5 million on buying two properties in the Temple Quarter.
The investment will see £3.8 million and £1.2 million spent on buying up Brunel's Old Station Building and the Pest Control Depot.
The Old Station building is being turned into a conference centre and the former depot demolished to open up access to the site earmarked for the long-awaited indoor arena.
Gareth Dickinson, head of property at RLAM said: "This is a very exciting time for the city as all eyes are on Bristol following the decision by the government to designate the Temple Quarter as an Enterprise Zone."
Jeremy Richards, from Jones Lang Lasalle, said: "We are looking at a mixed-use scheme, which could include a hotel.
"We would not build any scheme speculatively – we would have to pre-let the buildings.
"We believe that there will be interest in the site."
On the opposite side of Temple Way, a site known as Bank Place is still standing empty more than three years after the former Clerical Medical building was demolished in 2008.