Funding Boost For Coventry City Centre Regeneration Scheme
The regeneration plans for Coventry have taken a step forwards as an additional £12.24m of funding was accepted for a mixed-use development which includes homes and commercial space. Insider Media reports that the City Centre South regeneration project has already secured £98.8m grant funding from the West Midlands Combined Authority (WMCA).
The scheme gained outline planning permission in 2021. It is located to the south of the city centre and comprises 15 acres including Bull Yard, Shelton Square, Market Way and City Arcade. The proposals intend to create a new inner city neighbourhood as well as retail, hospitality and leisure facilities to draw in visitors to the area.
New pedestrian-friendly routes will be created to connect the area to the city centre, and other green transport-friendly initiatives will be introduced such as cycle hire docking stations, car club spaces and the CCC Very Light Railway. Work is expected to start on the scheme in summer 2024.
A report for the cabinet said: “[…] a significant amount of work has been undertaken to progress the scheme, including the compulsory purchase order being confirmed by the secretary of state, the delivery of high-quality new premises for the Shopmobility scheme and a significant amount of ground investigations and surveys being undertaken.”
It continued: “However, changes in fire safety regulations proposed earlier this year in the wake of the Grenfell disaster have required changes to the design of, and timescales for, the scheme resulting in viability challenges which need to be resolved before the scheme can commence further.”
“This change in regulation has had a significant, adverse effect on scheme viability due to increasing build costs and reduced sales/lettable area, thus depressing overall scheme viability.”
“In order to address this issue and to prevent the scheme from stalling, the council has been able to successfully negotiate an additional grant assistance from the West Midlands Combined Authority of up to £12.24m.”
Elsewhere, plans are being drawn up to develop three new railway stations in the West Midlands, including Coventry East, Castle Bromwich, and near Tettenhall. The Coventry East line is on the line between Coventry and Rugby, and would serve the Binley and Willenhall communities.
The required £1m of funding to develop the proposals will come from the City Region Sustainable Transport Settlement, which was awarded to the WMCA by the Department for Transport.
Andy Street, mayor of the West Midlands and WMRE chair, said: “With five new railway stations under construction and a sixth on the way, we’re getting on with delivering the transport infrastructure local people want to see right across our region.”
He added: “We’ve now whittled down our list of stations to a priority list of these three at Castle Bromwich, Coventry East and Tettenhall – as these are the ones most likely to deliver the biggest benefit to the communities they serve. For those locations which did not make the shortlist, we’re still looking at ways to bring forward delivery.”
“The £1.7bn Midland Rail Hub scheme – now fully funded by government – may provide an avenue and will certainly be a game changer enabling us to connect even more towns and communities to the rail network.”
“New rail infrastructure can be transformative for an area, offering residents sustainable and convenient access to rapid and reliable public transport. That’s why it’s good news that local people will benefit from these stations very soon.”
Coventry was blitzed in an 11-hour air raid by the Luftwaffe in 1940 during the Second World War, in an attempt to knock out the production of war materials. It lost its historic cathedral, the central library, the market hall, and hundreds of other public buildings. In addition over half the city’s housing stock (about 43,000 homes) were destroyed.
The post-war reconstruction of the city was rapid but unfortunately not always well-planned and designed. Functional tower blocks replaced beautiful historic buildings, and little account was taken of good urban layout and the preservation of views. Many of the shopping arcades and multi-storey car parks from this era are now outdated.
The regeneration scheme plans to open up new vistas and create new public spaces and improved street patterns. The popular circular indoor market will be retained, and a new pavilion building, residential apartments, hotel, medical centre and cinema will be created.
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