City work ‘turbocharged’ by £42 million boost

Sunderland’s Riverside regeneration project has been given a £42 million boost.

Work to transform ex-industrial space into an urban quarter has received £29.75 million from Homes England’s Brownfield Infrastructure Land fund and £8.13 million from the North East Combined Authority’s Brownfield Housing Fund.

Bosses say the cash - announced to more than 150 attendees at the Delivering the Future City conference, at Sunderland's City Hall today (Tueasday, October 15) - will 'turbocharge' the city's evolution by supporting the creation of around 1000 new homes, community infrastructure and one million sq ft of employment space.

Immediate priorities include works to the New Wear footbridge and connections between residential sites at Sheepfolds, Vaux and Farringdon Row.

North East mayor Kim McGuinness said: “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.”

Peter Denton, Homes England chief executive, added: “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 to support what is a strong, locally-led vision to become a reality.”

Bosses say the investment will accelerate the Riverside Sunderland masterplan, which is aimed at transforming the former industrial heartland into a thriving urban quarter.

In total, nearly £80 million of infrastructure funding has now been secured, including previously approved council funding of £49.94 million.

The investment has also helped stimulate private sector contributions, including from Canada Life, Legal and General, and Placefirst Limited, which have brought more than £600 million in investment to Riverside Sunderland.

Further funding of £4.03 million from the Ministry of Housing’s Brownfield Land Release Fund will support additional residential developments at Riverside Sunderland and in Sunniside.

Councillor Michael Mordey, leader of Sunderland City Council, said: “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.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →