A host of dignitaries and city-based businesses will attend a VIP event to mark the next chapter of Derby’s £100 million Castleward redevelopment at 9.30am on Thursday 30th May.
Regeneration specialist, Compendium Living, is hosting a celebratory event to mark the start of construction work coming out of the ground at the 30-acre site, which is being transformed into a sustainable development of homes and businesses.
Compendium Living was selected as the preferred developer by Derby City Council and the Government’s Homes and Communities Agency (HCA) to create the new urban village.
Dave Bullock, Managing Director at Compendium Living, comments: “We are hosting a special event to mark the start of construction work beginning on site and are delighted to be celebrating this event with a wealth of local figures and Derby-based businesses.
“A commemorative stone will be unveiled at the site to mark the next chapter in Derby’s biggest and most important residential development in decades.
“This exciting project will completely revitalise the city, creating a highly desirable place to live and work, and a vibrant new gateway to the centre of Derby – it will transform the city for the people of Derby and visitors alike.”
Councillor Paul Bayliss, Leader of Derby City Council, added: “This is a major scheme for the city and we are delighted that Compendium Living is beginning work on site at Castleward.
“Castleward is a key strategic element of our city centre plans and part of the Council’s on-going commitment to stimulating the local economy, supporting economic growth and giving a quality choice for new residents in our vibrant city.”
Margaret Allen, Executive Director for HCA Midlands, said: “It is a great testament to the efforts of all involved in the Castleward development that work is now getting underway. The site location is one of immense potential and the work that is being undertaken will no doubt provide both economic growth and job opportunities for Derby.”
The special event marks the start of building work on phase one of the project, which covers approximately five acres of land.
Phase one will feature around 16,500sqft of commercial space, 163 residential units a tree-lined boulevard and a new urban park.
The first 12 commercial premises, ranging from 400sqft to 4,000sqft, will be available from autumn 2013, while the first homes will be available for sale from September.
Castleward is the regeneration of 30 acres of land between Derby Midland Station and Westfield, which will be redeveloped into a new sustainable community of 800 homes and 34,500sqft of commercial space.
Castleward recently became the country’s second development project to achieve certification under the BRE Environmental Assessment Method (BREEAM) Communities following a voluntary assessment.
The BREEAM Communities assessment measures the sustainability of new large-scale developments at the master planning stage, with certification awarded to projects where economic, social and environmental sustainability are being carefully considered.