Moffat said he was confident the project would be completed and ultimately generate jobs and money.
“It does need more than £20m but this unlocks further funding,” he said of the chancellor’s investment announcement on Wednesday.
“The site’s made a huge amount of progress.
“Obviously we had some grant funding.
“We’ve spent that remediating the site, getting it structurally stable.
“This now is the next step moving us from ambition into action and actually delivering the scheme.
“I understand people’s scepticism but, as a business, this is what we do up and down the country.
“We take sites that people think are beyond regeneration and we bring them back and we turn them into really exciting places and thriving economic generators – which is exactly what this site is going to be.
“It’s going to generate thousands of new jobs and hundreds of millions per annum for the local economy.”