The city region is to seek £2.5bn in investment from the government for the scheme
Major plan to change the face of Liverpool city centre: what you need to know
The city region is to seek £2.5bn in investment from the government for the scheme
- Metro Mayor Steve Rotheram has unveiled a £5 billion plan called “Central Liverpool,” which aims to regenerate 86 acres of the city centre. He compares its potential impact to that of the Liverpool ONE development
- A key part of the proposal involves creating a huge underground tunnel to link the city’s two busiest rail hubs: Liverpool
- Central and Lime Street. This would allow passengers to move between the stations as easily as they do between major London hubs like King’s Cross and St Pancras
- The “Big Dig” is designed to address major network capacity issues. By revamping Liverpool Central, the Mayor aims to move some “stopping” services (such as those to Manchester) away from Lime Street to make room for more high-speed and long-distance trains
- Beyond transport, the project is a “genuine, holistic plan” for the city centre that includes new housing, retail spaces, and an improved public realm. The goal is to redesign how the entire area functions to boost jobs and skills.
- The city region is seeking £2.5 billion from the national government, with the remaining £2.5 billion expected to be secured from other investment sources.
- The project is being used as a pilot for a new “place-based” funding assessment system introduced by Chancellor Rachel Reeves. This new method allows “social value” to be factored into bids, helping regional projects compete more fairly with London-based schemes.
- Read the full story: £5bn big dig and a huge tunnel could be the secret to Liverpool’s new look
