Derby City Council is set to acquire more land for the next phase of the Castleward redevelopment project.
A compulsory purchase order (CPO) is already in place to acquire land and, subject to Cabinet approval, Derby City Council will begin to issue General Vesting Declarations to remaining properties that need to be acquired.
The Council are working in partnership with Homes England, and Compendium Living on Castleward Urban Village, with the aim of delivering more residential space and driving an increase in city living.
Phase 4 of the development will see the creation of a further 112 homes including 34 affordable homes, working with Compendium Living and supported by funding from Homes England.
Also subject to cabinet approval is an increase in funding of £0.333m. The economic challenges affecting households are also starting to hit local authorities, including rising inflation and increases in the cost of power and fuel. Property values and the cost of relocating businesses is also higher than original estimates.
The Council is already working with occupiers affected by the CPO to ensure the right outcome is achieved in each case. One planned relocation site is the former Rolls Royce Light Alloy Foundry on Osmaston Road, with Tarmac and Derbyshire County Transport scheduled to relocate there for Summer 2023.
On the new developments at Castleward, Councillor Steve Hassall, Cabinet Member for Regeneration, Decarbonisation, Strategic Planning and Transport, said:
It is always exciting to see a project continue to develop as Castleward is doing.
We’ve already created an attractive gateway to the city, with new homes and commercial space. This fourth phase will only build on the success we’ve seen in the first three phases, as we look to encourage more people to come and call the city centre their home.
This is a major project for the city and the proposed increase in funding will allow us to combat the increased costs of acquiring land and businesses and maintain momentum with the project.
The first three phases of the scheme have already proved successful, with more people living in the new urban residential area in the city centre. These phases also saw the construction of the new Castleward Spencer Academy, which has added vital school capacity to the area.
Castleward is one of the city’s largest housing projects, and in total will provide around 800 new homes. The project, which sits between Derbion shopping centre and Derby Midland Station, will see 15 – 20 years of redevelopment, also providing green space and 35,000 square feet of commercial retail space.