Joint venture will proceed with drawing up masterplan for Greyfriars
The English Cities Fund (ECF) has entered into a development agreement with West Northamptonshire Council to bring forward the regeneration of Greyfriars in the town centre.
ECF, a joint venture between L&G, Homes England, and Muse, had already been working with the local authority to explore planning, delivery and funding for redevelopment of the 10ha area.
It will now develop a masterplan to take forward after engagement with the local community.
The site includes the former Greyfriars Bus Station, which was demolished in 2015, as well as the Mayorhold and Victoria Street Car Parks, Corn Exchange, Belgrave House, and East and West Islands.
West Northamptonshire Council has already developed a vision to bring the derelict area into new use, with the Corn Exchange forming a new leisure destination and Belgrave House providing opportunities for community and meanwhile uses.
ECF said the regeneration would include new homes, shops, cafes and restaurants, as well as a “landmark piece of public realm”, which will include an outdoor amphitheatre.
A spokesperson for West Northamptonshire Council, said: After working closely with ECF to develop a masterplan for Greyfriars, we are delighted to be able to enter into a Development Agreement. ”
“This will accelerate our approach and enable the council and ECF to continue to work in partnership to further develop a comprehensive masterplan and scheme at Greyfriars. Our vision is bold and transformative. It will drive economic growth, create jobs, and enhance the cultural offer for our community.”
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“Over the coming months we will be engaging with the community to help shape the approach, before a planning application can be submitted.”
Sir Michael Lyons, chair of ECF, said: “West Northamptonshire Council has set out a bold vision for Greyfriars and we have enjoyed a collaborative and positive partnership.
“Entering a Development Agreement will enable us to take the next important step in the delivery of this transformational opportunity. It’s a chance to enhance Northampton town centre with new homes, workspaces, retail, culture, and public spaces.”
“Together, we will move at pace to deliver a masterplan proposal which delivers against this opportunity.”
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