The Durham Council has announced plans to build the first of a number of new city centre developments across the city centre, with the first two planned to be completed within the next five years.
Key points:New development will be a key part of a $50m plan to revitalise the cityThe council said it would also provide financial assistance for development, including a loan for construction costs and construction site servicesThe council has identified a site for the new development and will hold a public consultation to consider the project.
The council’s development strategy, titled the “Durham City Centre Renewal Plan” , was unveiled at a news conference on Tuesday and will see the regeneration of the city’s Old City.
The plan outlines the planned regeneration of two of the main avenues in the Old City, the “Watford Street” and “Streatham Street”.
It states the area will be “reimagined as a vibrant city” and it will see new developments including the construction of the “Pioneer Village” and the construction “of a new community centre”.
It also outlines plans to support businesses by providing them with “financial assistance and services”.
“We will provide financial and other support to businesses that wish to take advantage of this opportunity,” the council said.
“The development plan outlines plans for additional commercial developments including hotels, shops, restaurants and the launch of a new mixed use development.”
The council also announced that it would be providing financial assistance to businesses through its “Banking on Growth” scheme, which will see “small businesses, commercial premises, shops and the City of Durham Bank” provide up to $10,000 per business to businesses who benefit from the scheme.
The plans also set out plans for “new developments including residential, office and residential towers”.
It will see two of these developments being built on the site of the old Durham Hospital, which is currently home to the Durham University Hospital.
The “Wetlands”, a multi-purpose park which was previously home to “a large number of parkland, public open space and an array of trees” will also be built.
“We are pleased to be able to provide this opportunity to develop and transform this vital and iconic part of the community,” Durham Mayor Rachael Hall said.
Durham City Councillor and councillor for housing, Chris Bevan, said the project would see the city “making a bold commitment to support its growing population”.
“The City of Durham has been very much committed to supporting new housing and supporting its residents in finding a place to live,” he said.
Duramontas has been working to secure funding for development on the city council’s website since 2016, but said it was now “time to get moving”.
“Over the past five years, the City has worked with the Durham City Council and the National Capital Authority to make this happen,” he added.
“I believe the regeneration plan is the right one to deliver this important transformation.”
It will also provide the Council with a financial assistance package which will support the creation of businesses and the creation and redevelopment of the parkland in the city, as well as the creation, maintenance and management of residential properties.
“This will ensure that the city has a strong base of businesses in place in the future.”
Durham Council’s development manager, Mark Brown, said it made sense for the council to continue working with the National Trust on a development agreement with the property developer and local authority.
“What’s important is that we continue to work with them on a long-term, strategic agreement,” he told the ABC.
“If we’re able to do that, we will be able, as a council, to make sure that the regeneration is as successful as possible for the city.”
Topics:business-economics-and-finance,city-and.north-east-5304,duranews-and-“city-university-5307”,city-united-states,south-east,united-kingdom,dutch,united.duramondurham-5305,dundsey-5014,southport-4730,southorchid-5287First posted November 01, 2020 11:45:04Contact Rachana Gopal