Press Release
URCs unveil ambitious regeneration targets
Ambitious future plans for Urban Regeneration Companies (URCs) have been outlined by Margaret Ford, Chairman of national regeneration agency, English Partnerships. The combined force of 21 URCs expect to deliver 1.5m sq metres of new commercial floorspace, 30,000 new city centre homes, 35,000 new jobs as well as lever in around £1.5bn in private sector investment through the life of the URCs.
Speaking at a URC parliamentary reception, hosted by Minister for Housing and Planning, Yvette Cooper MP on Monday 13 July, Margaret Ford said, “The URC model has been recognised as a successful vehicle for urban regeneration, confirmed by the creation of five more companies this year by ODPM (Office of the Deputy Prime Minister). Over the last four years I have been struck by the drive and determination of each URC team that I have met and the sheer scale of the ambition in each location.”
The last 12 months has seen progress on some major schemes such as Liverpool Lime Street Gateway, Sheffield Retail Quarter, Manchester Business Park and Corby Parkland Gateway. Funding of nearly £30m provided through English Partnerships has also provided a major boost to a range of projects within the programme.
A monitoring and evaluation framework has been put in place which will help capture some of the wider outcomes and positive progress being made, as well five year reviews for the three pilot URCs in Liverpool, East Manchester and Sheffield. The Liverpool review has already created evidence for the ‘energising’ effect of URCs.
“The momentum is increasing for URCs and we know that the work they are undertaking is having a much wider knock-on effect, providing the driving force for further regeneration and growth across entire cities and regions”, continued Margaret Ford.
English Partnerships, who pioneered the URC model, is a founding member and funding partner of 18 URCs in partnership with RDAs, local authorities and the private sector. The model has proved powerful and flexible as a means of securing the regeneration of urban centres. The agency will continue to provide best practice advice and support enabling URCs to look at new ways of generating funding and resources. The way they engage with private sector partners will be key to successfully turning around sites more quickly.
New thinking is already in evidence in some regions: The East Midlands URCs have worked with the East Midlands Development Agency (emda) and English Partnerships to create the East Midlands Property investment fund in the belief that collective assets can attract more investment and expertise.
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