Morgan Sindall Investments and Bournemouth borough council have signed contracts to start £40m of regeneration in Bournemouth town centre.
The agreements mean the Bournemouth Development Company, the 50:50 joint venture between the parties, can redevelop two council-owned car parks.
A Homes and Community Agency loan towards the financing of 64 flats and 3,120 sq ft of commercial space at the Leyton Mount site has been agreed.
At the Madeira Road site, work will start on a 378-bed student housing development. A new 382-space multi-storey public car park will also be provided. Funding will be provided by a pension fund.
A total of 17 sites have been earmarked for potential regeneration by the Bournemouth Development Company.
Councillor John Beesley, leader of the council, said: “These developments mark the positive action being taken to regenerate our town, boost our economy and make Bournemouth a premier destination to live in and visit.”
joanna.bourke@estatesgazette.com
