Could St Modwen's plans be delayed?

Arcade site preferred developer St Modwen has delayed plans for revamping Hatfield town centre, blaming "the unstable state of the finance, retail and property markets", according to this Herts 24 news story.
Could this happen to their tower block plans for Walthamstow? We very much hope so... but a delay isn't enough. We're hoping that the impending housing crash will make the council and St Modwen do a complete u-turn on their plans.
What Walthamstow really needs is for the council to go back to the drawing board - this time with genuine involvement of local residents and market traders - and to come up with a scheme that will actually be good for Walthamstow. Time and again councillors and officers have come up with plans that won't work, and that never materialise anyway. Locals seem to have a much better idea of what Walthamstow needs - so why don't they just ask?!