Regeneration of Sunderland site may create 4,000 jobs

Multi-million investment to regenerate a derelict Sunderland brownfield site may generate 4,000 new jobs in the city.

Plans are in place to remodel the former Vaux site which may include new riverside homes as well as business and retail units.

The European Regional Development Fund Competitiveness Programme has invested £2.25million to fund Phase 1 of the development.

A new public square will be created with pedestrian links to Sunderland city centre, and vehicular access to the site is also set to be improved.

With scope to develop 50,000-66,000m2 of commercial floorspace as well as residential units, this site presents one of the most significant brownfield regeneration opportunities in the North East.

The investment comes from ERDF, which is managed by the Department for Communities and Local Government, with match funding coming from Sunderland City Council.

The joint funding is predicted to generate private sector investment of around £200million and create approximately 4,000 jobs.

Communities Minister, Baroness Hanham CBE said:“European Regional Development Fund investment is supporting the redevelopment of this brownfield site, creating a distinctive identity for Sunderland and integrating the site with the rest of the city centre.

“This will accelerate commercial opportunities and remove barriers to investment.

“Creating a new and inspiring business location coupled with a high quality urban quarter will reinvigorate Sunderland city centre, generating crucial private sector investment and consequent local growth, with the potential for 4,000 jobs on site.”

The European Regional Development Fund Competitiveness Programme 2007-13 is bringing over £300m into North East England to support innovation, enterprise and business support.

It is aimed at helping to create and safeguard 28,000 new jobs, start 3,000 new businesses and increase productivity by £1.1bn per annum.

Leader of Sunderland City Council, Councillor Paul Watson said:“It’s excellent news for Sunderland that ERDF is supporting such a significant regeneration project for our city.

“To be prosperous our city centre needs more people living and working in it and a productive central business district on Vaux, alongside improved retail offer, new public space and better pedestrian access will help us to achieve our goals.

“We have a magnificent vision for our city-centre, which is gradually coming to fruition.”

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