[1][2] The Department of the Environment-commissioned Laganside Concept Plan was completed in March 1987, an initiative of Chris Patten and Richard Needham, two Northern Ireland Office ministers.
[3] The Corporation's original mission statement was: "to contribute to the revitalisation of Belfast and Northern Ireland through the regeneration of the Laganside area.
Its current mission statement reflecting a change in emphasis is contributing to the revitalisation of Belfast and Northern Ireland by transforming Laganside to be attractive, accessible and sustainable, recognised as a place of opportunity for all".
The Waterfront Hall is located on the site as well as Riverside Tower, (headquarters of BT Northern Ireland ) and the 5-star Hilton Hotel.
A budget of £92 million was established; 49% funded by the Millennium Commission, 11% by the Laganside Corporation, 18.5% by the Department of Culture, Arts and Leisure, 18.5% by the Sheridan Group and 3.3% by the Sports Council.
Mays Meadow Adjacent to Lanyon Place, has two major financial institutions, an Abbey call centre and the local headquarters of PricewaterhouseCoopers.