'Well-established' developer chosen to take on long-awaited multi-million pound regeneration project in Northampton
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A ‘well-established’ developer has been chosen to taken on a huge, long-awaited multi-million pound regeneration project in Northampton.
The Four Waterside and Marefair scheme, which is situated near the town’s railway station, is one of the county's largest brownfield developments, spanning five acres.
According to the council, the project is scheduled to begin in 2025 and aims to ‘revitalise’ the area by introducing a new hotel, grade A office spaces for new and existing businesses, high-quality residential units, and enhanced streetscape with improved paving and planting.
Cllr Daniel Lister, cabinet member for economic development, town centre regeneration and growth, said: “We are delighted to announce that we are working with Cityheart to deliver this significant development. Their expertise will be invaluable in transforming the two vacant brownfield sites and providing high-quality facilities to meet the needs of our local community and benefit our local economy.
“This area has stood empty for too long, and we are excited to now begin the relevant preparation before we start work in 2025. Once complete, this development has the potential to have a transformational impact upon Northampton town centre and beyond.”
WNC says Cityheart is a ‘well-established player’ in the national regeneration development arena with nearly two decades of experience, and it has worked with councils across the country to rejuvenate towns and cities. Their notable projects include the £135 million Galleries town centre redevelopment in Wigan, which covered an eight-acre mixed-use regeneration site, known for its sustainability, and introduced a new market, hotel, high-quality homes, leisure venues, co-working spaces, and events facilities.
WNC says it has secured £1.5 million in grant funding from The Towns Fund and an additional £7 million from the Northampton Waterside Enterprise Zone to fund the project.
A WNC spokesman said: “This financial support will drive the development forward, with a projected gross development value of £130 million, contributing significantly to the broader transformation of the town. The Towns Fund, aligned with the Government's 'Levelling Up' plan, has provided the Council with £24.9 million for the transformation of Northampton's town centre.”
Chron and Echo revealed last week that WNC has spent £40k on hoardings to cover up the long-abandoned Four Waterside site.