FRIAR'S Walk was one of the victims of the credit crunch along with The Edge, a housing development on the riverfront, and some other residential schemes.

Another Modus project, the £87 million City Spires which was to include a 29-storey tower block, leisure and retail facilities on the site of the Cambrian Retail Centre, was shelved.

But work to regenerate Newport has not come to a complete standstill.

Boulevarding along Kingsway, the footbridge and fountains have transformed that area, work on the riverside park and walk is progressing, a number of residential developments on the waterfront are selling and work on the university's city centre campus is progressing well.