Burnley Council has released a further £1m from its capital pot reserved for the redevelopment of the Weavers' Triangle area of the town centre.
The mixed-use development next to the Leeds-Liverpool Canal, being delivered by a joint venture between Barnfield Investment Properties and Burnley Council, will contain offices, a university technical college, student accommodation and restaurants. As well as refurbished warehouses, there will be new buildings and extensive public realm including a pedestrian bridge over the canal to an improved public space next to the towpath.
Among the work planned for the coming year is the second phase of the On The Banks development of Slater Terrace into small office units, and Sandygate Mill, Sandygate weaving shed and the former Waterloo pub into larger office units and a car park; public realm works in Sandygate Square, and highway improvements to Sandygate and Trafalgar Street.
Indigo Planning advises the joint venture. The architect for phase two is Campbell Driver Partnership.
Cllr Shah Hussain, the council's executive member for regeneration and economic development, said: "The regeneration of the Weavers' Triangle is moving ahead. It is being transformed into somewhere that looks to the future while, at the same time, keeping its historic heart and I'm very excited.
"The University Technical College in Victoria Mill is about to open its doors to its first students and we have an ambitious vision for neighbouring Slater Terrace that will see it become attractive and sought-after office space.
"This release of £1m is part of the ongoing regeneration of that area and will help fund further improvements."
Burnley Council's executive agreed to release £1.023 million from this year's council capital programme to help fund the work. All the capital funding for the Weavers' Triangle regeneration programme is from external sources and has been consolidated into the council's capital funds.
The area received cash as part of a successful Regional Growth Fund bid which is also being used to reopen the Todmorden Curve rail line to create direct links to Manchester.