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' Eco-Fund Whacked by Credit Crunch
Prince Charles's Foundation for the Built Environment is seeking alternative funding for urban regeneration plans.    (AP Photo / Scott Heppell, Pool)

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.
  (More Prince Charles stories.)

Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X