Sunderland City Council has set out a masterplan for its Riverside Sunderland regeneration, which includes 1,000 homes and 1m sq ft of office space.
The new urban quarter, which is backed with £100m of investment from Legal & General, also aims to incorporate a major life sciences or healthcare facility, a library and community hub, a landscape park and smart infrastructure.
The council intends for the 33.2-hectare site to become the UK’s first carbon-neutral city centre quarter.
A new central business district will be created as part of the scheme, which is estimated to create space for 10,000 workers. The homes, located across four riverside neighbourhoods, will have capacity for 2,500 residents.
Graeme Miller, leader of Sunderland City Council, said the masterplan will “transform a part of the city that has vast potential”.
“We’re seeing more and more investment flooding into the city,” he added. “The private sector is alive to the opportunities, and that is bringing about transformation at a pace not seen for decades.”
Projects already under way in Sunderland include the construction of a new city hall and a 450-seat auditorium, which forms part of the Fire Station arts complex.
Works are expected to start soon on a 120-bedroom Holiday Inn in Keel Square, and a planning application has been lodged for two new buildings in the central business district that will create 200,000 sq ft of office space.
James Ramsbotham, chief executive of the North East England Chamber of Commerce, said: “Right now, the north-east of England provides huge opportunities for businesses wishing to invest, with great transport links by sea, air, road and rail to all parts of the UK, and indeed to the rest of the world.
“Sunderland, in particular, offers the most wonderful space in which to create a business. With new cultural venues, improved transport links and a great sporting tradition, it offers a quality of life for all.”
To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette
