Troubled Anglia Square shopping centre has been acquired by Norwich City Council.
The site, bought from Columbia Threadneedle Investments, was the subject of controversy early this year when developer Weston Homes pulled out of a consented regeneration of the site.
The £300 million scheme, which was set to deliver up to 1,100 new homes as part of a mixed-use development across the 4.65-hectare site in Norwich city centre, was, according to the developer, no longer viable.
However, the council, backed by funding from Homes England, is set to take the scheme forward. A bid for further grant funding from Homes England has been made for demolition and infrastructure work.
Cllr Mike Stonard, leader of Norwich City Council, said: “The council has grasped this golden opportunity on behalf of the people of Norwich to bring a bright new future to Anglia Square and ensure it’s developed as quickly as possible to benefit the people of Norwich.
“We are now in the driving seat to create a new Anglia Square with affordable homes, diverse retail and leisure outlets, a new neighbourhood centre, and well-paid jobs for local people.”
He added: “Transforming Anglia Square is about delivering substantial benefits for local people and making sure no one is left behind, which includes traders.
“What we will achieve in Anglia Square will resonate throughout the city and beyond. I am convinced it will become a beacon of modern, low carbon, urban living in the heart of one of England’s most historic cities.”
Pauline Schaffer, director, infrastructure funding for Homes England, said: “Anglia Square is an example of Norwich City Council’s ambition to revitalise the city centre and repurpose brownfield land into new homes for the local community.
“This key regeneration area for Norwich, has the potential to have a huge transformational impact on the city. We have worked closely with the council to support the successful acquisition; this shows how investment from Homes England is helping to unlock new homes and thriving places people can be proud of.”
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