A ‘once in a lifetime’ opportunity to revitalise Bishop Stortford’s town centre and deliver a new leisure quarter has moved one step closer thanks to a £9.6m injection of funding from Hertfordshire LEP. Read the latest press release.
Hertfordshire LEP has awarded £9.6m funding to East Herts District Council towards the regeneration of Old River Lane in Bishop's Stortford town centre. The site currently serves as a surface level car park and will be transformed into a pedestrianised leisure quarter comprising restaurants, bars and cafes, a focal arts and public sector hub, a new public square, green spaces, and managed workspaces for small businesses.
It was recognised that previous under-investment in arts and culture combined with projected rapid population growth had created the risk of Bishop’s Stortford becoming a commuter-belt dormitory. The regeneration of the town centre looks to make the most of its excellent location and strategic transport links to London and Oxford, and give local residents a vibrant place to live, work, and play while boosting the local economy.
The LEP has committed £9.6m Growth Deal funding towards this project, comprising a £6m grant and £3.6m interest-free loan to East Herts District Council.
LEP funds will be used to support the Northgate End portion of the Old River Lane project – a key phase that will allow the council to commence work on the site to build new homes and ground-floor workspaces.
This phase will deliver:
- 186 high quality homes
- A small number of high quality retailers
- An iconic arts and entertainment centre
- A multi-storey car park
- A new public square
- Green spaces and improved links to Castle Gardens, which is also benefitting from a £2.36m Heritage Lottery Fund rejuvenation.
Site map of planned regeneration work at Old River Lane, Bishop's Stortford