Some £15M in funding has been awarded to Nottingham City’s Southern Gateway project.
The £250M Southern Gateway programme is one of the most ambitious ever undertaken by Nottingham City. It involves the redevelopment and improvement of the area from the intu Broadmarsh shopping centre to Nottingham’s train station; and includes a revamp of the Intu Broadmarsh centre and the building of a new bus station, car park, library, retail spaces, and changes to the area’s road and tram links.
The project aims to create an environment which aids business and the economy, and which provides a good location for people to work and live in.
The funding comes from the D2N2 Local Enterprise Partnership. D2N2 is the private sector-led Partnership of business, local authorities, skills and training providers, and community and voluntary services; which promotes jobs, business growth and the economy across its area of Derby, Derbyshire, Nottingham and Nottinghamshire.
The LEP has been allocated more than £250M in Local Growth Fund; awarded by the UK Government to jointly invest in infrastructure projects which directly boost the economy.
On the current schedule all aspects of the Southern Gateway project are due to be completed by mid-2021. Nottingham City Council’s business case estimates that the regeneration will directly create 532 full time jobs, plus 2,300 indirect jobs (linked to the construction works and supply chains); and will result in a new library, 1,208 space car park, bus station and 7,000sq m of altered public space.
Elizabeth Fagan, Chair of the D2N2 Local Enterprise Partnership, said: “The Southern Gateway project is ambitious. The improvements are designed to attract investors and benefit business, but essentially also to create a space which people will want to live and work in.
“D2N2 is backing this vision, with one of the largest single investments from its Local Growth Fund to date. We believe it will help Nottingham maintain and enhance its status as a UK core city, and aid the economy of the wider LEP area.”
If you are interested in finding out more about key infrastructure trends today, you may wish to attend the flagship infrastructure exhibition at the NEC in April 2019 : UKIS 2019