Step forward for major Bristol Temple Quarter regeneration project
One of the UK's biggest regeneration schemes has moved a step forward in Bristol.
Bristol City Council (BCC) approved a funding strategy for the next phase of the Temple Quarter and St Philip's Marsh regeneration on 5 October.
The project plans to transform more than 130 hectares of brownfield land in the centre of the city over the next 25 year.
It is set to bring 22,000 new jobs, up to 10,000 new homes and an economic boost of £1.6billion each year, but it needs significant initial investment for the first project phases.
A £95.6million business case is currently with government and now BCC's cabinet has approved an interim funding bid of £2.26million to the West of England Combined Authority (WECA).
This would be used to create new and improved access and passenger facilities at Temple Meads station, as well as going towards an engagement programme to see what people think of the plans for Mead Street.
Marvin Rees, Mayor of Bristol said: “The Temple Quarter and St Philip’s Marsh regeneration will bring about the long-awaited renewal of a city centre site, transforming it into a sustainable, well-connected urban area with a series of thriving mixed-use communities.
“By creating thousands of jobs and homes in the city centre and a £1.6billion annual boost for our economy it will bring opportunities for citizens and growth for businesses, while tackling the challenges posed by the ecological and climate emergencies head on.
“Our business case to government demonstrates how the regeneration will be a regional and national asset for levelling up the UK economy and creating clean, sustainable growth.
"We need to keep up the momentum of this vital project so the funding bid to WECA will move on key initial phases.
"This includes a Development Brief for Mead Street and an extensive engagement programme to hear the views of citizens and businesses to make sure the emerging Temple Quarter and St Philip’s Marsh Development Framework supports their individual and businesses aspirations and needs of their communities.”
Following endorsement by chief officers of North Somerset, South Gloucestershire and Bath and North East Somerset councils, the WECA Joint Committee will review the funding bid on 15 October.
A review of project funding in Spring 2022 will agree next steps, following the outcome of the business case to government.