£42m boost for Sunderland regeneration scheme

£42m of investment in Riverside Sunderland has been unveiled at an event taking place in the city today [Tuesday, October 15].

Major works to transform Sunderland's former industrial heartland into a thriving new urban quarter has been turbo-charged by £29.75m of additional Brownfield Infrastructure Land (BIL) funding from Homes England, the Government's housing and regeneration agency, and £8.13m from the North East Combined Authority's (NECA's) Brownfield Housing Fund (BHF).

The funding - announced at Expo Sunderland's Delivering the Future City conference held at City Hall - will accelerate the transformation and implementation of the Riverside Sunderland masterplan - and will support the delivery of critical infrastructure, which - in addition to previously approved council funding of £49.94m - takes the total infrastructure investment in this transforming urban quarter to almost £80m. 

The investment will underpin numerous interventions across the site and create around 1,000 new homes, new community infrastructure and 1m sq ft of employment space, which is essential to Sunderland City Council's social and economic growth strategy.  Immediate priorities include works to the New Wear footbridge and the creation of connections between the new residential development sites at Sheepfolds, Vaux and Farringdon Row.

The funding is helping to leverage significant private sector investment, with contributions from Canada Life, Legal and General, and Placefirst Limited forming part of over £600m already invested in the Riverside Sunderland regeneration programme.

A further £4.03m from the Ministry of Housing, Communities and Local Government's Brownfield Land Release Fund - which is being administered via the Cabinet Office, LGA and OPE - has also been pledged, which will enable the start of a series of residential developments at Riverside Sunderland and in Sunniside.

News of the funding was announced at the Delivering Future City conference, an event that will explore how devolved local powers will help to accelerate delivery, and assess how partners across the city and wider region can come together to overcome challenges and deliver successful growth and transformation, resulting in better outcomes for residents and communities.

Bids to secure support from Government and NECA have been led by Sunderland City Council, and the funding - combined - represents the single biggest public sector investment in work to create new homes in Sunderland in decades.  It will complement private sector development that has revitalised the heart of Sunderland, now seen as a poster child for urban regeneration on a national stage. 

Councillor Michael Mordey, leader of Sunderland City Council, said: "Sunderland is growing its reputation as one of the most ambitious and innovative local authorities in the country, leveraging public and private sector investment to deliver a world-class place to live, work and play. 

"Securing investment on this scale is only possible because we commit and then deliver - time and time again - and this is a fantastic vote of confidence in our plans for a dynamic, vibrant new urban residential district.  We're proud to be leading this from the front."

The funding secured will ensure remediation work, that will prepare the sites for development, can be undertaken and the council will then work with the private sector to move forward in developing new homes that will create a vibrant mixed-use community, comprising housing, offices, leisure amenity and public realm. 

North East Mayor Kim McGuinness - who was appointed in May making a commitment to build more and better homes across the region - said: "Everyone in our region should have a home to feel proud of, which is why I've made housing a central pledge of my term in office.  Alongside Sunderland City Council, we are investing in Sunderland Riverside because we need more good quality homes in the North East, and particularly more social housing.  

"It is fantastic to see Sunderland Riverside taking shape and know that right at the heart of this growing, thriving city we will be building the best quality homes for local people to live in."

Dame Norma Redfearn DBE, North East Combined Authority Cabinet Member for Housing and Land and Elected Mayor of North Tyneside Council, said: "This is for the people of the North East.

"We won't sit by and let land that could be used for housing sit idle.  These new homes will turn what was a brownfield site into a beautiful, thriving, vibrant place where people can flourish."

Homes England chief executive Peter Denton said: "Riverside Sunderland embodies how it's possible to breathe new life into a place of huge historical significance for the area, and I'm very happy the Agency can support what is a strong, locally-led vision to become a reality.

"It's our job and privilege to help put these plans into action by providing funding and wider expertise, working hand in glove with local leaders to create a sustainable, high-quality place that really works for people."

The funding announcement - made to more than 150 changemakers and policy-shapers - signals the latest commitment to long-term partnership between Homes England and North East local authorities, galvanised by the announcement of a Strategic Place Partnership between the Agency and North East Combined Authority.  It will accelerate the implementation of the Riverside Sunderland masterplan, which aims to double the residential population in the city centre and increase employment by 50 per cent, and also fits with the city's housing strategy which will see 7,000 new homes built by 2030.