Stevenage is set to undergo an ambitious 20-year regeneration programme, funded by a consortium of partners including Hertfordshire LEP, Stevenage Borough Council, Hertfordshire County Council and Hertfordshire Chamber of Commerce.
The first phase of this programme is SG1; a redevelopment scheme spanning nine areas in the existing town centre. SG1 will introduce new housing, retail, bars, cafes and restaurants – along with a new combined public sector hub housing a library, health facilities, charity and voluntary services and Stevenage Borough Council offices – to the centre of Stevenage.
Work is also being undertaken to relocate the bus station to a new site, create additional parking facilities and acquire land to facilitate a larger redevelopment package.
Stevenage Borough Council conducted a competitive procurement process to select a developer for SG1 and in February 2018, international developer Mace was chosen to spearhead the first phase of development.
The regeneration seeks to overcome many of the current challenges faced by New Towns like Stevenage and provides an opportunity to reinvest in decaying infrastructure and capitalise on the town’s outstanding transport links to London and surrounding areas.
The programme will create a mixed use economy within the town centre combining residential, retail and leisure facilities to reinvigorate Stevenage for the 21st Century and unlock its economic potential.
Funding from Hertfordshire LEP has been critical to unlocking the first phase of development (SG1) which will deliver new homes, retail units and public facilities within the new civic hub. Additional investment will be made to improve transport links, parking facilities, and facilitate the creation of a new site between the town square and Lytton Way.
Hertfordshire LEP has invested £34m from the Local Growth Fund towards this project (£15m from Growth Deal 1 and a further £19m from Growth Deal 3).