Stevenage Borough Council and Mace have signed a new agreement to jointly work on the long-term transformation of Stevenage Town Centre.
With a gross development value of around £350m, the agreement, SG1, seeks to create a new quarter of five distinct character areas on the western side of the town centre as part of the regeneration programme.
SG1 is one of the largest town centre regeneration schemes in the region.
The mixed-use regeneration scheme includes plans to create new streets within Stevenage, and a redesigned, modern Town Square, which will enhance the unique architectural heritage of Stevenage.
The plans are expected to boost the economic vitality of the town centre, providing new residential, retail, restaurant and leisure uses.
New public spaces will also be created, alongside a public services hub that will bring together key council services in a single building and include a new library and health facilities for the residents to access high quality services at one location.
Mace COO for development David Grover said: “This agreement marks a major step forward for the transformation of Stevenage town centre.
“With a contract agreed we can now get started in earnest in delivering the regeneration of the town centre – I look forward to seeing our exciting plans come to life.”
A comprehensive consultation exercise will be launched later in 2019 for feedback from residents and businesses.
Work is expected to be taken up over several phases and the first construction project will commence in 2020.
Stevenage Borough Council leader Councillor Sharon Taylor said: “This is an exciting time for Stevenage and the future of our town centre.
“Signing this deal with Mace highlights our ambitions to grow our town and improve the services and amenities we currently offer to residents.
“We’ve seen a number of smaller projects already completed in our town centre as part of the regeneration programme including Market Place, Vista Tower and more, but SG1 will be one of the critical elements in driving significant, positive changes to our Town Centre.
“We’re delighted to have Mace on board and can’t wait for development to get underway.”
Image: Rendering of Stevenage Town Centre. Photo: Courtesy of Mace Group.