Next funding steps for Temple Quarter and St Philip’s Marsh regeneration
Main image: Temple Meads station Northern Entrance illustration (before development of The Friary and Goods Yard). Courtesy of Bristol City Council.
The next phase of the Temple Quarter and St Philip’s Marsh regeneration can move forward – following a funding strategy approved by Bristol City Council’s Cabinet on 5 October.
It is one of the UK’s biggest regeneration projects that will transform over 130 hectares of brownfield land in the centre of the city over the next 25 years.
The complex project, which the council says is primed to bring 22,000 new jobs, up to 10,000 new homes and an economic boost of £1.6billion each year, needs significant initial investment for the first phases.
A £95.6m business case is currently with government – so to sustain momentum in the complex project programme, Cabinet approved an interim funding bid of £2.26m to the West of England Combined Authority (WECA), one of the project partners.
The money will be used to create new and improved access and passenger facilities at Temple Meads station – with the aim of making the area better connected to the rest of the city and beyond, bringing benefits to citizens and businesses.
The bid will also support a comprehensive engagement programme on a Development Brief for Mead Street – one of the first sites coming forward for development – to hear the views of citizens and businesses.
This is to make sure the emerging Temple Quarter and St Philip’s Marsh Development Framework supports their needs.
Mayor of Bristol Marvin Rees, said: “The Temple Quarter and St Philip’s Marsh regeneration will bring about the long-awaited renewal of a city centre site, transforming it into a sustainable, well-connected urban area with a series of thriving mixed-use communities.
“By creating thousands of jobs and homes in the city centre and a £1.6billion annual boost for our economy it will bring opportunities for citizens and growth for businesses, while tackling the challenges posed by the ecological and climate emergencies head on.
“Our business case to government demonstrates how the regeneration will be a regional and national asset for levelling up the UK economy and creating clean, sustainable growth. We need to keep up the momentum of this vital project so the funding bid to WECA will move on key initial phases…”
Following endorsement by Chief Officers of North Somerset, South Gloucestershire and Bath and North East Somerset councils, the WECA Joint Committee will review the Cabinet funding bid on 15 October.
A review of project funding in spring 2022 will agree next steps, following the outcome of the business case to government.
