Barton Willmore’s Cambridge team has applied for a £50 million government investment from the new Towns Fund under the Stevenage Town Investment Plan. Instructed by the Stevenage Development Board, spearheaded the submission of the plan to the government in order to aid Stevenage’s 20-year regeneration programme.
Working alongside Genecon, Stevenage Borough Council and Hertfordshire LEP, the aim is to secure capital from the government in order to fund projects across Stevenage as part of the opportunity for 100 towns to benefit from the £3.6 billion Towns Fund.
Following extensive online consultation with businesses, residents and stakeholders, a shared vision that showcases Stevenage as an exemplar New Town with five key ambitions and proposes 10 exciting projects.
The six ambitions include:
- To reflect and re-interpret its New Town heritage for future generations
- Embrace sustainable travel to maximise the benefits of a strategic location and link to communities with jobs and leisure
- Transform the town centre as a key place of opportunity and integration for business, residents and visitors
- Residential neighbourhoods
- Upskill and providing opportunities for people to benefit from innovation & growth
- Supercharging the growth of our national and international business base
The bid forms part of a larger regeneration programme across Stevenage that will see a total of £20 billion invested over the next 20 years. Highlights of this larger project so far include the announcements of the Town Square regeneration project, a new bus interchange, development of the former M&S site on Queensway North, and ‘SG1’, the scheme currently being brought forward by Mace, which will feature 11 new buildings over 5.8 hectares of the town centre.
Andrew Fisher, Director at Barton Willmore and lead on this project, said:
“This investment plan puts into writing what we have long known about Stevenage – that there is a huge opportunity to make a dramatic contribution to UK plc through the town’s growth and reinvention as well as radically enhancing the lives and opportunities for those who live there.”
“It is evidenced already in the projects currently underway to regenerate the town centre. £50m is the maximum amount of funding a place can apply for under the towns fund scheme, and we’re confident that Stevenage has a powerful case for this investment – which would unlock fantastic opportunities for residents and the local community, as well as the significant economic potential for the wider region and UK economy. we look forward to hearing the government’s decision.”
The plan was officially submitted on October 30th. The government is expected to issue a decision in early 2021. This submission was part of the second cohort of Towns Fund applications, with a third set due before the end of January 2021.
If the bid is successful, Stevenage will then have up to a year to agree on specific projects and develop comprehensive business cases, building on the content of the plan.
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