Derby City Council welcomes the announcement of a third round of local growth funding to support four key City Centre Masterplan regeneration projects which are part of the 50 Pledges to move the city forward.

The Council applied for £21.7m but details on the amount of funding allocated is yet to be confirmed.

Deputy Leader Councillor Martin Rawson and Cabinet Member for Regeneration and Economy said:

“It’s indeed good news to learn that all four projects for which we submitted bids have been recognised. I now await details from D2N2 Local Enterprise Partnership on what this means for each project.

“These are all vital projects required to create a vibrant city centre, drive a lively night time economy, provide jobs and housing which in turn will stimulate growth in the local economy and help to transform Derby into a city of choice.”

The four city centre regeneration projects which the Council bid for D2N2 LEP funding are:

  • Phase 1 of the Performance Venue – £8.6m
  • The redevelopment of the Silk Mill Museum – £3.6m
  • More phases of Castleward Urban Residential Development – £6.6m
  • Construction of larger office spaces to accommodate start-up businesses which have outgrown their current facilities – £2.9m

These four are among the first wave of projects under the City Centre Masterplan 2030 which aims to deliver 4,000 new jobs, 1,900 new homes and leverage £3.5bn in private sector investment.

Published: Thursday 9th March, 2017