Prince Charles' Eco-Fund Whacked by Credit Crunch

Investor abandons prince's fund for urban regeneration
By Rob Quinn,  Newser Staff
Posted Apr 20, 2009 5:29 AM CDT
Prince Charles's Foundation for the Built Environment is seeking alternative funding for urban regeneration plans.    (AP Photo / Scott Heppell, Pool)
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(Newser) – Prince Charles' dreams of eco-friendly urban regeneration have been shattered by the credit crisis, the Daily Telegraph reports. A major Middle Eastern investor has pulled out of a $1 billion property fund the prince planned to use to replicate the sustainable eco-village Poundbury, which he launched in Dorset. Supporters are scrambling to find new funding, but the prince's vision is expected to be scaled back considerably.