Business & Invest | Published on: 23rd November 2023
A local developer has been recommended to take on a project to redevelop the heart of Middlesbrough.
Tarras Park Properties with iMpeC Developments Ltd will take on a £120million redevelopment of Gresham – subject to board approval.
iMpeC has developed projects across the North East – including Milburngate, in Durham, and The Fram Well, in the city. It also has pedigree in building homes in County Durham.
The firm was selected following a full, open and competitive procurement process.
The high-quality mixed-use scheme will see professional living and student accommodation created in a move away from terraced housing.
A secure multi-storey car park, a business incubation space, leisure facilities, and improved pedestrian links to the Teesside University campus are also part of the vision.
Tees Valley Mayor Ben Houchen, who chairs the Middlesbrough Development Corporation Board, said: “Following years of decline and neglect by those in charge, Gresham has been in desperate need of wise investment – and we now have an ambitious and sensible plan for the area.
“Middlesbrough Development Corporation is showing its worth by getting a grip of Gresham and is offering the means to get this project up and running.
“For years, the council have talked about investing in the town but nothing ever happened. I set the MDC up to get on make things happen where others have stalled for years.
“I’m delighted that a firm from our region has been selected for the job and it’s a big step forward on us getting spades in the ground.”
If recommendations are backed, iMpeC will draw up a detailed site wide masterplan within three months – with construction touted to last three years once work on the ground starts.
The wider Middlesbrough Development Corporation was allocated £10million by Tees Valley Combined Authority Cabinet members in 2022.
And Gresham itself received a further boost in the region of c.£5m via a grant from the Department for Levelling Up, Housing and Communities (DLUHC) to the Combined Authority earlier this year.
A board decision would also free up £400,000 to fund the detailed plan that will shape the future project.
Middlesbrough Development Corporation board is set to meet on Wednesday, 29 November, at 2pm.
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