Member Article

Liverpool sees £1bn of developments in one year

More than £1 billion worth of regeneration projects started in Liverpool in 2013 despite the difficult economic climate, new figures have revealed.

A total of £1.06 billion worth of regeneration schemes got underway last year, across the city – and together, they will deliver more than 4,250 jobs.

It is the highest level of investment in Liverpool since 2008, when the city reached its regeneration pinnacle as European Capital of Culture.

Mayor of Liverpool, Joe Anderson, said: “This is really good news for Liverpool, and proof that our business-friendly approach and willingness to work with the private sector is paying dividends. The massive amount of regeneration activity which started in this city during 2013 is very encouraging and shows that we are beginning to overcome the economic downturn.”

Key developments which have begun in the last 12 months include:

• An investment of more than £60m on new office space and shops, creating a combined 3,323 jobs

• A massive £331m investment in health facilities – including the new Alder Hey Children’s Hospital -creating 417 new jobs

• £100m investment in three new schools – including the £17m Archbishop Beck Sports College – and two new university buildings

• The £7.6m construction of Liverpool Science Park’s third building, ic3, at the heart of the city’s Knowledge Quarter

• Major investment delivering an additional 200 hotel rooms in the city this year, including the conversion of the derelict, Grade II listed Royal Insurance building in the city centre into an Aloft branded hotel.

Meanwhile, the city is making major progress in its housing delivery programme, with work getting underway in the past year on over 2,600 new homes. Key projects include in Anfield, where a £23m investment in new housing and the on-going refurbishment of 550 homes is supporting the wider, £260m regeneration plans for the area.

The new figures follow a major year of growth for Liverpool in 2013, which saw over £500 million of projects completed and delivered across the city, delivering more than 3,000 new jobs.

Success stories included the £50m refurbishment of Liverpool Central Library; the delivery of two schools, including the new £15m Notre Dame Catholic College in Everton; the opening of American fashion chain Forever 21’s flagship five-storey store in the city centre; and the building of almost 500 new homes.

Mayor Anderson added: “I am a firm believer that our best days lie ahead of us and I’m making it a priority, over the course of my term, to create 20,000 new jobs, to deliver 5,000 new homes and to make Liverpool the preferred choice for investment. It’s vital that regeneration continues in this city and that we do not allow the momentum we have built in recent years to fall away.

“These new figures show that Liverpool is open for business as never before. We are making the most of our assets and working creatively with the private sector, and that is a message which is being received loud and clear by investors.

“We are seeing the buzz and activity of development taking part in every part of the city, businesses are choosing to locate here and new and refurbished homes are springing up in our neighbourhoods.

“The growing confidence in Liverpool is helping attract substantial private sector investment, boosting our economy and creating jobs. At the same time, the city council is finding creative ways of doing business and stimulating the economy, such as through our invest-to-earn approach.

“There is much more still to do, but I’m delighted with the progress we are making, because, ultimately, every penny invested here helps us build a better future for our city.”

As well as major investment in the city centre, Liverpool’s neighbourhoods are also benefiting. The new figures show that development outside the city centre is at its highest ever level, with £372 million of schemes projected for completion during 2014.

The city is also looking to the future, with a further £1.85 billion of projects in the pipeline, including:

• The new, £429m Royal Liverpool University Hospital

• The £200 million redevelopment of Edge Lane Retail Park

• A new, £66 million exhibition centre and hotel at Kings Dock

• On-going work to complete the city’s £169m Schools Building Programme, delivering a total of 12 new schools

• Major housing schemes at 75 more sites across the city

• The £260m Anfield Project, which will deliver new housing, business, retail and community facilities, along with the proposed expansion of Liverpool FC’s stadium

• The multi-million Project Jennifer plans, to regenerate the Great Homer Street area in North Liverpool

• The later phases of the £160m Central Village scheme in the city centre

• The £65m Baltic Triangle scheme

• Ambitious plans to develop Kings Dock and the south docks, through the city’s ‘Waterspace Strategy’.

These schemes are expected to create over 15,000 construction jobs and over 5,000 new jobs, indicating a continuing confidence in the regeneration of the city.

This was posted in Bdaily's Members' News section by Simon Malia .