The next phase of the Temple Quarter and St Philips’s Marsh regeneration project can move forward, following a funding strategy approved by Bristol City Council this week.
The project will transform over 130 hectares of brownfield land in Bristol city centre over the next 25 years, making it one of the UK’s biggest regeneration projects.
The regeneration works are expected to bring 22,000 new jobs to the city, alongside up to 10,000 new homes and an economic boost of £1.6bn each year.
A £95.6m business case is currently with government, so the Cabinet approved an interim funding bid of £2.26m to the West of England Combined Authority (WECA) in order to sustain momentum in the project, creating new passenger facilities at Temple Meads station and improving access.
Marvin Rees, Mayor of Bristol, said: ‘The Temple Quarter and St Philip’s Marsh regeneration will bring about the long-awaited renewal of a city centre site, transforming it into a sustainable, well-connected urban area with a series of thriving mixed-use communities. By creating thousands of jobs and homes in the city centre and a £1.6billion annual boost for our economy it will bring opportunities for citizens and growth for businesses, while tackling the challenges posed by the ecological and climate emergencies head on.
‘Our business case to government demonstrates how the regeneration will be a regional and national asset for levelling up the UK economy and creating clean, sustainable growth. We need to keep up the momentum of this vital project so the funding bid to WECA will move on key initial phases.
‘This includes a Development Brief for Mead Street and an extensive engagement programme to hear the views of citizens and businesses to make sure the emerging Temple Quarter and St Philip’s Marsh Development Framework supports their individual and businesses aspirations and needs of their communities.’
In related news, up to £50m will be given to councils and social landlords in Scotland to build housing infrastructure which will help deliver new homes across the country.
Photo supplied by Bristol City Council