There are promising signs of recovery in the retail industry following several years of recession, with consumer confidence beginning to climb once more and a number of exciting developments in the pipeline across the country. One such project is the Great Homer Street development in Liverpool, which this week has been granted detailed planning permission.
Regeneration specialists St. Modwen are spearheading the scheme in conjunction with Liverpool City Council, and hope that the development – known as Project Jennifer – will bring much-needed prosperity to the north Liverpool economy. It will certainly help to lift employment figures in the area, as experts forecast the scheme will create upwards of 1000 positions upon completion.
Work on the site is expected to begin in Spring 2014, with a forecast completion date of Autumn 2016. At that point, surrounding sites such as Marwood Tower and Dryden Street will see significant improvement works in order to benefit from the hype surrounding Project Jennifer.
Cabinet member for regeneration at Liverpool City Council, Councillor Malcolm Kennedy, believes that the scheme will provide a turning point for an area in need of a fresh start.
He says; “Project Jennifer is an important progression for North Liverpool and will regenerate an area in real need of investment and development.
“We are looking forward to seeing this vital scheme delivered, which will make a massive difference to people’s lives – breathing new life into the area, providing first-class facilities and creating new jobs.”
As with many development projects currently underway in the UK, Project Jennifer will combine commercial space with a residential aspect; in this case, 480 new homes will be created on the site. Residents will be able to benefit from an open air market, a petrol filling station and numerous leisure facilities within the close vicinity of their front door.
Furthermore, the centrepiece of the development will be a 110,000 square foot Sainsbury’s flagship supermarket, which when completed will be the largest in Liverpool. Development for this unit will begin in Spring 2015 and St. Modwen hopes that the store will be open for business by the beginning of 2016.
In the meantime, the developer is keenly pursuing big name retailers to fill the remaining 80,000 square feet of retail space which has not yet been snapped up. This process has been ongoing for the past six months.
St. Modwen’s regional director, Stephen Prosser, praised the council and local community for their enthusiasm throughout the early stages of the project.
He said; “We are delighted that this scheme, which is both needed and wanted by the local community, is moving forwards towards actual delivery on site.
“The attainment of this detailed permission is the next important step forward and is testament to the positive support the scheme continues to enjoy.
“We are committed to delivering this scheme for the people of North Liverpool and will be working hard to finalise the details over the next few months in the build-up to starting on site.”
Do you think developers should be offered incentives to initiate projects of this sort in more deprived areas of cities, or would this encourage reckless developments with no guarantee of long term success?
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