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The Vine – a future thriving city centre hub – given the rubber stamp for funding from Government

02 March 2023

A total of £13million has now been secured from the Government to create a future thriving city centre hub in the city centre.

And it means that eight out of eight Towns Fund projects submitted in Peterborough have been successful in receiving Government funding. In addition, all Government Levelling Up Fund applications have also been successful – bringing the total amount secured in Government funding over the past year to over £80million.

Towns Fund money is ring-fenced by the Government and so it can only be used for this purpose. Other projects include a pedestrian bridge over the River Nene, an Activity Centre at Nene Park and a Green Technology Centre at Peterborough College.

The Vine is the flagship project and will provide a thriving, dynamic and flexible space right in the heart of our city centre for people to socialise, enjoy locally produced food and drinks, set up and run small businesses, learn in high quality teaching spaces and visit a wide range of exhibitions and events.

Residents will be able to log onto an IT training course, take part in a community event, buy a painting from an emerging artist, or simply grab a cup of coffee or a bite to eat in this city centre location. It will provide a place to work and visit, drawing footfall to the area and help to support the local economy.

The Vine will be operated under a commercial lease by a private operator, acting as a tenant. Additional funding will be sought from other sources. If it can’t be found, The Vine would still go ahead, but would either be developed on a phased basis or across two different locations.

Councillor Wayne Fitzgerald, leader of Peterborough City Council, said: “We now have a 100 per cent success rate in Government funding from both our Levelling Up Fund and Towns Fund applications - resulting in over £80million of Government funding on its way to Peterborough.

“This shows the confidence that the Government has in our city’s growth and the quality of the developments that we have planned for the coming years.”

Andy Starnes, deputy independent chair of the Peterborough Towns Fund Board, said: “This project is making good progress and will improve the lives of people in Peterborough as well as driving footfall and benefiting the local economy.

“It will be a hub of activity for everyone from students, to businesses, artists, tourists and visitors and residents popping in for a coffee and a bite to eat. It will be a significant asset for our city centre.”