Regeneration Liverpool, a joint venture between Liverpool City Council and asset-backed vehicle specialist Sigma Inpartnership, has announced plans to develop five sites across the city.
The five areas are:
- Stonebridge Cross development
- Gateacre former comprehensive school site
- Lime Street, Renshaw Street, Knowledge Quarter in city centre
- Edge Hill district centre
- Lodge Lane baths site
The partnership will work with house builder Countryside Properties, Neptune Developments, Plus Dane and other local housing associations to deliver the projects.
The first priorities will be Stonebridge Cross and Gateacre with a view to starting in 2012/13. Stonebridge Cross comprises 60 acres and will provide a new secondary school, health centre, 600 homes and retail with a major food store.
The former comprehensive school site in Gateacre will be developed to accommodate around 200 new family homes. Regeneration Liverpool will recycle the value from these homes back into the provision of new educational facilities in the city as well as looking at other city council priorities.
Regeneration Liverpool will prepare feasibility studies for Lime Street, Renshaw Street, Knowledge Quarter, Edge Hill District Centre and Lodge Lane bath site, to include a variety of uses including commercial and residential development as well as educational, community and health facilities.
The joint venture is already delivering a £100m housing scheme of 115 units on the Boot Estate in Norris Green.
Duncan Sutherland, chairman of Sigma Inpartnership, said: "The widening of the partnership provides a real delivery vehicle for the city council in terms of regeneration, jobs and investment. The partners are already working with local communities to deliver projects and the council's objectives in Norris Green, Stonebridge Cross and other areas of the city."
Cllr Joe Anderson, leader of Liverpool City Council, said: "We're absolutely determined to continue driving forward regeneration in Liverpool. But in such difficult economic times, we have to find imaginative ways of working with partners. Regeneration Liverpool is a really effective way of doing this, bringing together the best of the public and private sector and creating really exciting opportunities for our city.
"The development of these five key sites is fantastic news for Liverpool, and proof that by strengthening this innovative partnership, we are leaving ourselves better equipped to deliver vital regeneration schemes, attract investment and create thousands of jobs."
Regeneration Liverpool, registered as Liverpool Partnership LLP, was formed in March 2007 as a 15-year joint venture between Liverpool City Council and Manchester-based regeneration specialist Sigma Inpartnership. The council will put land and potentially occupiers such as schools into the partnership and Sigma will raise finance to develop the new buildings. Regeneration Liverpool is managed by a board consisting of two Liverpool City Council representatives and two Inpartnership representatives.
Sigma Inpartnership has other similar asset-backed partnerships with Salford City Council and Solihull Metropolitan Borough Council.