Plans to redevelop the North Westgate area of the city centre are being progressed by Peterborough City Council.
A briefing with group representatives was held on Wednesday (10 January) at Peterborough Town Hall to give an update on the progress of the scheme, which will see much-needed regeneration in a historically underused area of the city centre.
Councillors were shown preliminary designs for the scheme to help showcase the early work currently underway. They were also given an update on property acquisition on the site, which has already begun, thanks to an investment of £15million which was previously allocated for this use.
John Holdich, leader of Peterborough City Council said: “We first decided to take a lead role in the development of this underutilised city centre site just over a year ago. This followed the decades of lack of progress on the site from when the scheme was first raised back to the 1970s.
“One of the key issues which hinders the sites redevelopment is complex and multiple land ownership, with the council currently owning only a small percentage. This is one of the key reasons the council decided to take a key role in the redevelopment, as we have the ability to use our compulsory purchase powers in this area if needed to complete assembly.
“The next stage for the scheme is to take a period of time to assess its commercial viability before moving forward and develop the masterplan much further and working with key partners and landowners. This is a vital stage, which should be not be rushed. We are taking our time and doing things thoroughly and properly. We would rather do this once, than face another decade of unrealised potential of this important site.
“We have a proven track record in this area too. Fletton Quays was also underutilised for decades. We created the Peterborough Investment Partnership which has kick started regeneration of this key riverfront site and it is due to open for business later this year. Fletton Quays is now a flagship development for the city, and we want to use our experience from this to deliver a great development in North Westgate.”