As Newport Unlimited’s 11-year tenure of city-wide regeneration comes to an end in March 2014, Newport City Council has pledged to build on the foundations created by the urban regeneration company and drive the transformation of Newport forward.
Since 2002, Newport Unlimited, with partners, has rolled out projects worth £230 million, acted as a catalyst for a wide range of developments and established the building blocks for the future.
The city’s regeneration strategy going forward will be led directly by a new Economic Regeneration Team at Newport City Council, who will work closely with a business-led Task Force for Newport, set up by Business Minister Edwina Hart AM.
The city has already submitted a bid for £13.3 million over three years from the Welsh Government’s Vibrant and Viable Places funding stream, the outcome of which will be decided in January 2014.
A successful bid would help deliver £30 million of new regeneration activities in partnership with the private and third sectors, create up to 600 new jobs, develop 421 new homes, upgrade 162 homes and help more than 850 people gain work-based learning and skills development opportunities.
Bill Mayne, chair of Newport Unlimited, said: “Since Newport Unlimited was established in 2002, the city has changed beyond recognition – despite the very tough economic environment in which we have been operating for the past six years.
“The waterfront has been completely transformed by new, high-quality housing developments together with a £35 million campus for the University of South Wales; new business parks have been created attracting high-profile organisations into the city, while major infrastructure and public realm work, including a Riverside Park, has improved the appearance of the city centre and made the region more attractive to potential investors.
“In addition, Newport has come alive by hosting a major sporting tournament, the 2010 Ryder Cup, and is now home to the Food Festival which has become a firm favourite in the annual calendar.
“There are more exciting times ahead for Newport, with further regeneration projects such as the development of the new £100 million Friars Walk retail and leisure scheme, the upgrade of the Grade II Listed Victorian market and the construction of the 77,000 sq ft Admiral office, in full swing.
“These projects, and others which have yet to be started, such as the £39 million mixed-use development at Old Town Dock by Sennybridge Limited, will continue apace beyond 31 March 2014.”
Newport Unlimited was established, originally with a 10-year lifespan, to spearhead the regeneration of the city. Its remit was extended in 2012 for a further year to ensure that the larger investment projects were well underway.
Since it was set up, it has helped to secure £230 million of private sector investment into the city. As a result, more than 1,300 new jobs have been created, 72,000 sq.m of commercial and retail floor-space has been delivered and planning applications have been submitted to construct more than 10,000 new homes. Almost nine hectares of derelict land has been reclaimed and more than 7,000 sq m of public open space has been created.
Councillor Bob Bright, leader of Newport City Council, said: “Newport Unlimited has fulfilled much of its original vision despite the very difficult economic climate it has operated in over recent years.
“Projects spearheaded by the urban regeneration company have transformed large parts of the city. For instance, it is difficult to remember that Old Town Dock and other areas bordering the river were once derelict and neglected.
“The end of Newport Unlimited will certainly not mean the end of regeneration for the city as we recognise there is still work to do and, together with the Welsh Government, the council will continue to strive to bring improved living, working and leisure opportunities to Newport.
“I would like to thank all those who have been involved in Newport Unlimited over the years as we look to continue their work in a new way. We are on the cusp of seeing other large scale projects taking shape including the much-wanted and much-needed Friars Walk.”