Dream vision for Hartlepool Waterfront and business parks earmarked for £10million from Tees Valley Combined Authority (TVCA) investment plan
The Waterfront and town business parks have been earmarked to benefit from part of £10million of investment into Hartlepool.
Hartlepool Borough Council regeneration services committee is to look at projects which can be funded from £10million allocated to the area from the Tees Valley Combined Authority (TVCA) investment plan.
The external funding, not part of the council’s budget, will be allocated to the area as £2million each year for five years and is earmarked under the ‘indigenous growth fund’ to support economic growth projects.
A report to go before councillors identifies two projects for the funding to be used towards at this early stage; to develop the Waterfront events space, and for business park investment.
An indicative budget of £2million has been set out for each project respectively, with both estimated to take 24 months to complete.
The Waterfront site is earmarked for development to include a hotel, leisure provision and the events space.
The events space, to be developed using the external funding, will create an outdoor exhibition space and an outdoor space for the delivery of council and private events, including music, art, culture, markets and leisure etc.
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It will also aim to allow the ongoing delivery of the Waterfront Festival and increase usage and footfall on the site.
A report from council director of regeneration and neighbourhoods Denise McGuckin, also highlights why business parks are being eyed up for funding.
It said: “Investment in the borough business parks is long overdue. To date a Southern Business Zone Rebranding Strategy has been undertaken and considered ways to improve the identity and usability of the area.
“This principle of the strategy will be widened out to include other business parks in the town not just those included in the Southern Business Zone.”
It adds the designs for business parks would seek to ‘raise their profile, create a clear identity with distinctive branding and improve the quality of the areas’.
Council bosses added they will continue to review future regeneration projects which could be funded by the remaining TVCA funds, with any projects needing to focus on ‘jobs, visitors, attractions and business premises.”