English Cities Fund (ECF), a joint venture between Legal & General, Homes England and Muse, will be managing what is described as the largest brownfield regeneration opportunity in the borough of West Northamptonshire.
Working with the council, ECF will draw up options to shape planning, delivery and funding for the redevelopment.
Northampton’s Greyfriars covers 14 acres and includes the former Greyfriars bus station, which was demolished in 2015, as well as the Mayorhold and Victoria Street car parks and the Corn Exchange.
The vision, developed by West Northamptonshire Council and Studio Egret West with support from Homes England, seeks to re-imagine several derelict buildings with new uses – an arts centre, a business incubator etc – and an outdoor amphitheatre to anchor landmark new public spaces.
Housing and retail are also expected to part of the scheme.
ECF chair Sir Michael Lyons said: “West Northamptonshire Council has developed an ambitious and exciting vision for Greyfriars, as part of a bold approach to the wider regeneration of Northampton Town Centre.
“Working in partnership with the local authority, ECF will support the development of a delivery model which aligns with the Greyfriars vision and supports long-term regeneration.
“Greyfriars has the potential to drive significant social and economic value and working together we can unlock the opportunity. Having expanded in size to £400m, ECF stands ready to collaborate with ambitious partners to deliver transformative regeneration.”
Cllr Dan Lister, West Northamptonshire cabinet member for local economy, culture and leisure, said: “Transformational change is already underway across Northampton town centre with the redevelopment of the Market Square, and rejuvenation of Abington and Fish Street.
“As well as development plans on brownfield land at Four Waterside and Marefair which demonstrates the council’s ambition but also commitment to delivering better public spaces. This partnership is an exciting step forward in our vision to regenerate the Greyfriars site into a vibrant neighbourhood which is set to amplify this part of town and turn this into a reality.
“ECF obtain a wide breadth of skills and knowledge which they will be bringing to West Northamptonshire as part of a long-term relationship to bring forward a viable and sustainable scheme.”
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