The next stage towards securing Future High Streets Funding for the city went before Cabinet on Wednesday evening.
Cabinet were asked to approve a submission of a draft business case in January and full business case in April. The business case outlines Derby City Council’s bid for funding, to renew and reshape Derby City Centre, improve the experience for citizens and support the drive growth and sustainability of Derby high streets.
The Future High Streets Fund is a government initiative that helps to reinvigorate high streets and town centres that need growth and investment. The initial bid focused on the traditional high street areas of the city including St Peters Street, Victoria Street and East Street and will see this area redeveloped and diversified.
The four key areas identified in the draft business case are:
- Eastern Gateway Development around the entrance to the Eagle Market and the bus station to create a gateway into the city centre
- St Peter’s Street To development the retail and city centre living along St Peter’s Street
- Northern Gateway Transformation of a new food, leisure and market within the Market Hall helping to create a link between intu and the Cathedral Quarter
- Becketwell public square Creation of public space in the Becketwell regeneration area
The programme will help connect key destinations in the city centre, like intu, Becketwell and the Market Hall, and create a high quality experience on Derby’s high street for residents, businesses and visitors. The successful bid will support the delivery of key projects within the City Centre Masterplan.
Councillor Matthew Holmes, Deputy Leader and Cabinet Member for Regeneration, Planning and Transportation said:
We have a very strong proposal for the Government’s Future High Street Fund and will be submitting our final business case early in the next year.
The project is about recognising that we must transition away from traditional retail in specific areas of Derby to deliver a more varied and viable long term future.
For example, we want to provide and kick start city living, residential homes along with creative and community workspaces and hubs and are embracing that change positively. By doing that we will also ensure the Cathedral Quarter and the Intu Centre also thrive as core shopping and leisure destinations. In turn this will enable public realm improvements.
The funding will be vitally important in delivering a vibrant and sustainable future for the City Centre that will look and feel very different to the present.
Cabinet approved the submission of the draft business case at Council Cabinet on Wednesday 18th December. The business case will then be developed in the New Year, for submission in spring 2020.
More information on the Future High Streets Fund can be found on the GOV.UK website.