News: 23 March 2021Successful bid for DHCLG Towns Fund secures investment for Stevenage

Our Cambridge team have been instrumental in Stevenage’s successful ‘Towns Fund’ bid to redefine its future, securing a £37.5m investment for Stevenage as announced by Chancellor Rishi Sunak on 3rd March. The Chancellor announced that 45 areas will receive part of the Governments £1bn funding, with Stevenage securing the joint highest grant, alongside Southport.

Working with Genecon, Stevenage Borough Council and Hertfordshire LEP and Hertfordshire County Council, our team spearheaded the submission of a Stevenage Town Investment Plan to government on behalf of the Stevenage Development Board. Drawing upon the team’s extensive knowledge and research, our submission set out a clear and compelling regeneration and investment plan for the next decade in Stevenage. A comprehensive online consultation process was also undertaken with businesses, residents and key stakeholders, enabling us to present a vision that showcases Stevenage as an exemplary 21st Century New Town with five key ambitions (below), and proposing 10 exciting projects.  

Ambitions

  • Reflect and re-interpret Stevenage’s  heritage as the first UK New Town for future generations
  • Embrace sustainable travel to maximise the benefits of a strategic location and link to communities with jobs and leisure
  • Transform the town centre as a key place of opportunity and integration for business, residents and visitors
  • Supercharge the growth of the towns  national and international business base
  • Upskill and provide opportunities for local people to benefit from innovation & growth

 

This bid is part of a larger regeneration programme in Stevenage which will see £1bn invested over 20 years. The key projects currently announced within this programme include the regeneration of the Town Square, a new bus interchange, the development of the former M&S site on Queensway North, and ‘SG1’, the scheme currently being brought forward by Mace, which will feature 11 new buildings over 5.8 hectares of the town centre.

THIS IS BRILLIANT NEWS FOR STEVENAGE! OUR PLAN CLEARLY SET OUT WHAT WE HAVE LONG KNOWN ABOUT STEVENAGE – THAT THERE IS A HUGE OPPORTUNITY TO MAKE A DRAMATIC CONTRIBUTION TO UK PLC THROUGH STEVENAGE’S GROWTH AND REINVENTION, AS WELL AS RADICALLY ENHANCING THE LIVES AND OPPORTUNITIES OF THOSE WHO LIVE THERE. WE ARE EXTREMLY PLEASED THAT THE GOVERNMENT RECOGNISED THIS, AGREEING TO GRANT THE STEVENAGE DEVELOPMENT BOARD £37.5M, THE JOINT HIGHEST GRANT OF THE 45 AWARDED. WE ARE CONFIDENT THAT STEVENAGE WILL UNLOCK FANTASTIC OPPORTUNITIES FOR RESIDENTS AND THE LOCAL COMMUNITY, AS WELL AS SIGNIFICANT ECONOMIC POTENTIAL FOR THE WIDER REGION AND UK ECONOMY, AND WE LOOK FORWARD TO WORKING FURTHER WITH THE BOARD.
Andrew Fisher,
Director and team lead on the project

View the Executive Summary.

View https://stevenage-even-better.com/my-town/ for more information.

Listen in to our podcast episode "How can we maximise social value in town centre regeneration?" where we brought together a range of voices from the industry, who are intrigued by this challenge and come at it from a range of specialisms and perspectives.

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Stevenage, Towns Fund, town centre, regeneration, Genecon, Stevenage Borough Council, Hertfordshire LEP