A new development company has been set up to tackle the most blighted areas of Nottingham city centre and establish a blueprint for other development agencies looking to regenerate derelict city sites, writes Mike Broad.
Nottingham Regeneration is modelled on the Lace Market Development Company, which regenerated the city’s historic textile quarter in the mid-1990s. But unlike its predecessor it includes English Partnerships in its set-up.
A ‘hit list’ of derelict land and buildings in need of regeneration has been drawn up, with a refuse tip in Southglade Park, and a former mill in Gamble Street, sitting at the top of it.
Alan Swales, chief executive of Nottingham Regeneration, said: “We are not trying to compete with the private sector. We are trying to plug the gaps that they are not filling.”
He believes the partnership company is in a unique position to assemble sites where fragmented ownership is deterring development. The city council, which is also member of Nottingham Regeneration, is prepared to issue CPOs to achieve regeneration where negotiation with the owners has failed. Its non-profit making status also means that it has access to EU and central government grants that private sector developers wouldn’t have access to.
Swales is confident that £6.5m of investment can be attracted into Nottingham Regeneration’s sites over the next three years.
Nottingham city council leader Graham Chapman said: “There is now clear recognition that the problems of regeneration cannot be tackled by individual companies or agencies alone. Nottingham Regeneration is a powerful force whose members have an exceptional track record in delivering regeneration. Together, we can turn around the derelict parts of this city, bringing new jobs and businesses here.”
EGi News 11/03/99
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