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.
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.
Why
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.
Funding
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.
Impact
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.
"The Old River Lane project will bring vibrant new public amenities to Bishop’s Stortford town centre to benefit the local community, attract new visitors, and help the historic and strategically located market town live up to its full potential." - Adam Wood, Head of Infrastructure & Regeneration
This project was approved by the board on the 21st June 2018.
