Speaking during a visit to the site this morning, the Sinn Fein MP, MLA said: "It is highly appropriate that at this time of huge political progress, what was formerly a symbol of division is now becoming a focal point of a united drive towards creating a better and more prosperous future for all our people.

"The regeneration of Derry City and the North West is something which is a core element of our ambition to create a better life for all sections of our society.

"This work is a joint effort with the Office of the First Minister and deputy First Minister, Ilex, the Department for Social Development, and Derry City Council combining to push forward a wide range of projects and initiatives. I wish them well in their continued efforts."

The deputy First Minister was accompanied by Sir Roy McNulty, the recently appointed Chair of Ilex Urban Regeneration Company which was set up to stimulate social and economic regeneration for the Derry City Council Area.

Welcoming his recent appointment Mr McGuinness said: "Sir Roy's appointment as the new Chair of Ilex comes at an exciting point in the regeneration of the city. He brings a depth of experience in business and regeneration to the Ilex Board.

"Sir Roy also has the leadership qualities necessary to place Ilex at the centre of the coordinated regeneration of the city and the North West area securing its economic, social and physical future."

During his tour of the former Ebrington Barracks site the Minister was appraised of development plans by Ilex Chief Executive, Bill Kirk. An Ebrington Masterplan, launched in October 2006, outlines a mixed-use development, including housing, commercial and public space, as part of which many of the former military buildings will be retained and refurbished.

"The Ebrington development plans, for a mixed-use community where commercial, residential and retail space will blend with leisure, culture and tourism facilities, provide a unique opportunity to physically and socially connect communities within the city," Mr McGuinness said.

He added: "These plans, coupled with the proposals for St Columb's Park and Clooney, will bring benefits to the Waterside, City and the region".