Newcastle City Council has hailed today’s approval of a £121.8m Government investment as a ‘catalyst for development’ that will deliver thousands of new homes and hundreds of jobs.
The Government billed the regeneration plan as a turning point for transforming Quayside West at Forth Yards – the city's last major brownfield site – into a thriving neighbourhood with up to 2,500 homes.
The business case for the plan was approved after it was developed by Homes England in partnership with the North East Mayor and Combined Authority, Newcastle City Council and Network Rail.
Council leader, Cllr Karen Kilgour, said: ‘The funding will act as catalyst for development, allowing us to bring forward infrastructure improvements that will open up the site to attract much-needed private sector investment.
‘In about 15 years it will have created a whole new part of the city to the west and provided a new community for our residents while adding significantly to our economy.’
Kim McGuinness, North East Mayor, said: ‘This derelict land is in a great location on the banks of the Tyne yet has stood mostly unused for 20 years, which is a huge waste of potential.’
She added: 'This won’t be a vast estate, where people can’t access the services they need, but a thriving community with great transport links, green spaces and shops.’
