Council-led ownership is key to revitalising economically challenged areas, says Carolina Borgstrom, Director of Economy, Environment and Infrastructure at North East Lincolnshire Council (NELC).

Transforming towns that have suffered from historic underinvestment and industrial decline takes much more than bricks and mortar. Regeneration schemes of this scale are about shifting mindsets, restoring pride, unlocking opportunity, and delivering the infrastructure communities need to thrive.

Building investor confidence through public leadership

In many challenged towns across the UK, it is local councils that are stepping up to lead their renewal – offering the cohesive vision and long-term commitment that private sector alone cannot always guarantee. By taking the lead, councils are sending a powerful message: this town is worth investing in. And that message is being heard.

In a climate of economic uncertainty, investor confidence hinges on stability and long-term vision. Council ownership offers both. Unlike short-term private equity models, public sector stewardship provides continuity – ensuring developments are aligned with broader community goals and protected from speculative risks.

Changing the narrative: From decline to destination

At the heart of Grimsby’s regeneration, for example, lies a bold ambition: to shift perceptions and create a town centre that truly serves the community. NELC’s decision to purchase Grimsby’s Freshney Place – once a traditional retail centre – was a proactive move to stabilise the town’s economic core and drive a more resilient future.

In a £50m project – one of the biggest single investments in the town’s history – the asset is being redeveloped into a multiuse hub that is spearheading Grimsby’s economic revival. The introduction of leisure anchors to Freshney Place along with the integration of health services – such as a new NHS Community Diagnostic Centre – within a commercial setting, reflects a growing national trend towards multi-service destinations. A direction that makes particular sense in towns like Grimsby, where access to services and economic opportunity often go hand in hand.

By combining the convenience of retail with the critical infrastructure of healthcare, local authorities can make town centres more resilient, accessible, and meaningful to a wider cross-section of the community. This creates a new kind of civic space, responding to how people want to live, work, and spend time today.

Council-led confidence

What sets this approach apart is strategic long-term vision. Council-led ownership can orchestrate a place-based strategy that tackles economic, social, and environmental challenges in tandem. It’s about planting seeds for future growth, not quick wins.

NELC’s ownership of Grimsby’s Freshney Place means decisions can be made to service the wider community while balancing commercial success with social impact. The scheme places community at its very core.

The backing of the local council is fostering a cohesive, collaborative approach underpinned by a shared community objective; to drive a better future for the town. Acting as a catalyst for other projects, the initiative is creating the kind of joined up planning that private ownership models often struggle to deliver. The Freshney Place redevelopment is not a standalone project, but part of a wider vision for the town’s regeneration. Alongside the creation of a new housing development, a Youth Zone to give young people in the town centre somewhere to go and something to do, a new business centre, and public realm improvements, the project is ensuring that regeneration is inclusive, interconnected, and ultimately transformative.

This is not regeneration done to a place, but regeneration done with it. From public consultations to partnerships with local businesses, council leadership enables every step to be rooted in place-based priorities and local ambition.

As work progresses on site, confidence is spreading. Government backing has further bolstered this momentum. The project has already secured £20m in funding, recognising the scheme’s national significance. This endorsement not only unlocks capital but also reinforces credibility – making it easier to attract private sector partners to the table. National brands are taking note. And perhaps most importantly, local people are starting to believe in their town again.

Bold council leadership and strategic public ownership shows that regeneration isn’t just about development – it’s about belief. Belief in place. Belief in people. And belief in what’s possible when community is placed front and centre in the creation of a new chapter.