Compendium Living, a joint venture between housing regeneration specialist Lovell and housing association Riverside, has signed a development agreement with Derby council to bring forward the £100m Castleward Urban Village scheme in Derby.
The move signals the start of the major transformation of a 30-acre site in the city centre, providing a new link between Derby Midland station and the Westfield shopping centre.
About 800 new homes are planned, plus 215,000 sq ft of mixed commercial space, leisure and community facilities.
The area’s existing central footpath will be transformed into a boulevard with homes and businesses.
Dave Bullock, managing director of Compendium Living, said: “The regeneration of Castleward signifies a new era for Derby, setting the standard for development and becoming the city’s new front door.”
A planning application for the first phase of the development will be submitted early in the new year. It is likely to include about 100 homes and 25,000 sq ft of commercial space. Subject to consent, work will start on site in spring 2012.
lisa.pilkington@estatesgazette.com
