I think part of it has been that the site is so big - so people have wanted to masterplan it rather than build piecemeal. Whereas if it had been hived off into a series of smaller plots, it probably would have been done by now.I've often wondered why the huge Eastside area hasn't already been built built on, how long has it been derelict now?
There's been several masterplans over the years, which didn't go anywhere. The latest version aka "The Island Quarter" has been the only one to make any real impact with some buildings already open and others underway. Hopefully now that the ball is rolling, the rest of it can be finished and especially that falling down warehouse can be sorted out.