The Cabinet will be asked to approve the establishment of a new joint Peterborough City Centre Growth Board to oversee projects to revitalise Peterborough City Centre, at its meeting on 23 March 2026.
The new growth board, which would bring together Peterborough City Council, the Cambridgeshire and Peterborough Combined Authority (CPCA) and Homes England alongside representatives from industry, development partners, the cultural sector, and others, is a key step on the longer journey to establishing a Mayoral Development Corporation for Peterborough.
Mayoral development corporations (MDCs) are statutory bodies set up by regional mayors in England to deliver regeneration and development. Mayor of Cambridgeshire and Peterborough Paul Bristow has proposed a new Mayoral Development Corporation to support regeneration in Peterborough. The proposal has backing from Peterborough MP Andrew Pakes and Peterborough City Council Leader Cllr Shabina Qayyum.
The proposal for the Peterborough City Centre Growth Board has been put forward following a strategic review of development opportunities within Peterborough City Centre by the council’s Growth and Regeneration team in collaboration with CPCA’s Strategic Place Partnership with Homes England.
The findings of this review are already helping to shape a City Centre Development Framework and accompanying Character Guide to support future economic growth and redevelopment of the city centre.
The outcome of the review has recommended that a City Centre Growth Board is set up to oversee and coordinate delivery activity across the programme. This work is happening alongside the Peterborough Visioning Project, which will help define a long-term vision for the city centre.
Councillor Mohammed Farooq, Cabinet Member for Growth and Regeneration, said: “It is an exciting time for Peterborough because we are aligning our vision and our priorities with our strategic partners and Government to support the regeneration of Peterborough city centre to capitalise on the city’s historic past and many assets and rejuvenate it to ensure it is a place where residents want to spend time, businesses want to invest in and people from other areas choose to visit."
The new City Centre Growth Board is about taking collective ownership of our vision for the future of Peterborough, pooling our resources and working together to attract the right investment to enable us to create a thriving Peterborough for our residents, businesses and visitors for many years to come.
Mayor Paul Bristow said: “The momentum is with Peterborough. I want a city centre that residents are proud of, that businesses want to invest in, and that visitors choose to come to. That takes partnership, focus, and the right structures to drive regeneration forward.
"I'm pleased to see Peterborough City Council, the Combined Authority, Homes England and partners working together to make it happen. And with support for my plans for a Mayoral Development Corporation, we are moving from talking about regeneration to getting set to deliver it.”