Norwich City Council had partnered with Aviva Capital Partners (ACP) to deliver a £350m redevelopment project.
The investment partnership will support the transformation of Anglia Square’s former shopping centre, with the aim of creating 1,100 new homes and more than 3,500 jobs.
According to the council, the scheme will seek to provide both social housing and homes available to purchase.
Located outside the city centre, the project has been designed by the council to ‘turbo charge growth’ in ‘one of the country’s 10% most deprived areas’, delivering community spaces, retail sites and leisure facilities to the site, with demolition work expected to begin straight away.
Cllr Mike Stonard, leader of Norwich City Council, said: ‘I believe our partnership with Aviva, which has called Norwich home since 1792, will come to be seen as an historical partnership in one of England’s most historic cities.
‘The partnership will turbo charge the city’s economy and support our ambition to make Norwich one of England’s finest and fairest cities.’
Ben Luckett, chair of Aviva Capital Partners and Norwich Community Ambassador, added: ‘This vital regeneration project will bring significant economic and social benefits, helping Norwich get ready for the future.’
