Cardiff regeneration scheme to begin in spring 2015
A £500 million regeneration scheme for Cardiff city centre will begin in spring 2015.The Cardiff Embankment development along Dumballs Road will involve the provision of 2,150 new affordable and open-market homes between Cardiff city centre and Cardiff Bay, along with a new primary school, shops and restaurants.Developer Bellerophon Partnerships Ltd (BPL) has reached a deal with Linc-Cymru Housing Association after Cardiff Council was unable to part-fund it.The scheme will involve the regeneration of 33 acres of brownfield land in an area that has long been recognised as one of the most important sites for development in the council's Local Development Plan.Some 3,000 construction jobs and 500 extra long-term jobs could be created in the area, Wales Online reports.Cardiff Council leader Phil Bale said: "This is an ambitious, high quality scheme, and a significant achievement by both parties to get it off the ground without public sector funding."The £500 million project will deliver much needed jobs and will create a number of new facilities that will leave a lasting legacy for the community."BPL chief executive Richard Daley said it was a "historic day" for Cardiff and claimed the area had been "a blight on the landscape for far too long".The Welsh city is also set to be transformed by the development of its Central Square, which will involve the provision of one million sq ft of office, residential and retail space.Construction is already underway on phase one of the development, which will feature a 135,000 sq ft grade A speculative office scheme.Driven by Cardiff-based property development firm Rightacres Property in partnership with Cardiff Council, the scheme could feature one of the highest buildings ever constructed in Wales.A total of 450 private residential units, new retail outlets and a 200-bedroom hotel are set to feature alongside over 500,000 sq ft of new office space and student accommodation.
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