Metro Mayor Steve Rotheram will make the announcement at a real estate conference today
Metro Mayor Steve Rotheram will make the announcement at a real estate conference today
A major new regeneration body designed to turbocharge developments along the edge of Liverpool city centre is ready to deliver “one of the UK’s most dramatic renaissance stories of the 21st century.” Subject to approval, Liverpool’s emerging Mayoral Development Corporation (MDC) is seeking to convert 174 hectares of brownfield land into a dynamic extension of Liverpool city centre, with 5m sq ft of new commercial space and 17,700 new homes.
Metro Mayor Steve Rotheram will confirm to the MIPIM property conference in Cannes, France on how a business case is now in development for the transformation of the city’s North Docks. Liverpool City Region Combined Authority, with Liverpool Council, is to launch a statutory public consultation on the proposed MDC by the summer.
The Combined Authority, which announced earlier this week it was establishing a landmark £2bn Investment Fund to fast-track development projects, is expected to consider the formal creation of the MDC following work on the business case in the autumn. The scheme includes a roster of major projects along the North Docks area.
This includes the Liverpool Waters development The Central Docks, including a new urban park, supported by a £55m government grant and £26m investment from Peel Waters, site preparation due for completion in 2028. Mayor Rotheram’s announcement on the MDC’s business case timetable comes less than a day after developer Beetham Davos revealed how their new Kings neighbourhood, which falls within the emerging MDC boundary, would connect the northern fringe of the docklands with the city centre’s commercial business district.
Mr Rotheram said: “This Mayoral Development Corporation has the potential to inspire one of the UK’s most dramatic renaissance stories of the century, so I’m delighted to say our foot is firmly on the pedal to make this happen. For far too long, vast swathes of the city’s historic docklands have been left to rot and the impact on North Liverpool and the communities surrounding it is clear to see.
“Now with the arrival of Everton’s new stadium and exciting plans from developers such as Peel Waters and Beetham Davos coming out the ground, the timing to create such a body has never been better and the full business case should be ready for the Government to assess within the next six months. Momentum and confidence in the private sector is building and this MDC is the perfect body to capture that and provide the tools to accelerate it.
“Working alongside Liverpool Council, we have a clear roadmap ahead of us to turbocharge much needed investment in a number of schemes which will transform this area from a brownfield wilderness to a dynamic extension of Liverpool city centre.”
The zone’s future will be guided by a strategic masterplan vision and delivery framework that is being co-produced with Homes England, in conjunction with key stakeholders in the area.
This framework will also incorporate existing initiatives for housing-led regeneration under the Pumpfields SPD, working with businesses in the Ten Streets area, and will align with aspirations set out in the council’s waterfront plan for enhanced connectivity between the city centre and North Docks.
Subject to approval, the business case approval would enable the corporation, which will involve collaboration between the Combined Authority, Liverpool City Council, Homes England, national agencies and private sector partners such as Peel Waters, to progress towards full legal establishment once national consent is secured.
Once completed, the results of the consultation will inform the full business case, which will set out the financial, economic, commercial and governance reasons for its establishment.
It will then be sent to the Ministry of Housing, Communities and Local Government, for consideration by the government.
Cllr Liam Robinson, leader of Liverpool Council, said: “This is a hugely important moment for the future of Liverpool’s North Docks and our wider city. Working with the Liverpool City Region Combined Authority, the proposed Mayoral Development Corporation gives us a powerful opportunity to accelerate regeneration on a scale that simply hasn’t been possible before.
“By building on the momentum created by major investments such as the new Everton stadium at Liverpool Waters, we can unlock long term growth, deliver thousands of new homes, and create high quality jobs in a part of the city with enormous potential.
“Just as importantly, we are committed to engaging residents, businesses and partners as plans develop, so that this transformation delivers real benefits for Liverpool and its communities.”
