Work has been put 'on hold' on the redevelopment of Tenby's former civic centre into luxury apartments.
The apartments - being constructed as the first phase of the One Tenby development, an exclusive redevelopment scheme by Macob Tenby - are the latest victims of the credit crunch.
The £3 million scheme involves the extensive redevelopment of the Grade II listed sea-front buildings, the Old Guildhall, and the neighbouring Glendower House into a range of luxury apartments.
In October, we reported that eight, one and two-bed apartments were on the market, as well as two, three-bed duplex penthouse apartments.
However, a spokesperson for the developer, Macob Tenby, said yesterday (Thursday): "Due to the difficult economic climate, we have been forced to put the One Tenby on hold.
"Work will start again on the development as soon as economic and market conditions improve."
The Old Guildhall was formerly home to Tenby Borough Council's and Tenby Town Council's offices and council chamber.
From 1983, it then housed the local magistrates' court, which moved out in 2003.
The building is linked to Glendower House, which formerly housed the Tenby Tourist Information Centre.
The first floor of Glendower House was also formerly the offices of the Tenby Employment Exchange.
Three years ago, an application was approved for the demolition of the existing link building, the erection of a new four-storey infill block matching the style of the two adjoining properties and providing six flats, the alteration of The Guildhall and Glendower House to create an additional 13 flats, and the creation of a parking area accessible from both The Croft and The Norton.
However, a new application submitted by the developers, seeking approval for an alternative scheme, which would create nine apartments within the Guildhall, a new link building providing 17 apartments, basement parking, and gardens for the whole site, was given the thumbs down by members of the Pembrokeshire Coast National Park Authority's development management committee at a meeting back in September of last year.
Concern was raised by Tenby town councillor, Mrs. Trisha Putwain, last week, that development work on the prominent building appeared to have ceased.
At last Tuesday's council meeting the matter was discussed and Mayor, Clr. Mrs. Sue Lane, suggested writing to the developers enquiring what the situation was and asked if the information could also be passed on to Sue Crockford who resides at the premises.