By 2000, Rawtenstall's 1960s shopping centre had become deserted and boarded-up, and after 2003 various proposals were put forward regarding reconstruction or refurbishment. An agreement between Rossendale Council and the owners of the Rawtenstall centre, Ashcap, in February 2011, was said to "improve Rawtenstall town centre". In late 2011 the shopping centre was demolished, creating a new town square area, where local markets and other events are infrequently held. Rossendale Council funded the demolition using money set aside for a public pool in neighbouring town Haslingden. This move was controversial locally, but the completed bus station has also attracted positive comment. Since 2017 several new bars, shops, bistros and venues have opened in the centre of the town, along with a rejuvenated market under new management.