Following the completion of the judicial review process, Chester-based developer and public sector specialist Cityheart Ltd has been appointed as Preferred Developer to work alongside East Herts Council on this exciting project.
The site, which is owned by East Herts Council, will also see a mixed development of around 150 new homes alongside retail and commercial space.
The scheme is supported by a £9.6m injection Local Growth Fund investment from Hertfordshire Local Enterprise Partnership (LEP), made up of a £6m grant and £3.6m interest-free loan.
The 597-space multi-storey car park will include charging points for electric vehicles. Among the many exciting features in the arts centre will be a 544-seater theatre with state of the art staging system, a four-screen cinema and visual art displays.
Quality food and drinks will also be available. There will also be an extensive space that can be hired for community and private events, contributing towards the cost of running the centre. There will also be a small new woodland area.
Council leader Linda Haysey said: “We are delighted that we’re now in a position to progress our vision and that we can move forward with the next stage of this project to transform and revitalise this part of town.
“Everyone in the town and further afield can look forward to quality arts of all kinds in a superb space, while the multi-storey car park will contribute towards supporting the local economy and the ambitions of the town.
“The new public square will be a space to be enjoyed by the town’s residents and visitors.”
Adam Wood, head of infrastructure & regeneration at Hertfordshire LEP, said: “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.
“With the help of £9.6m LEP funding, under-used land which previously served as surface-level parking will be transformed with a new arts centre, cinema and town square to increase footfall, with plentiful parking provided in a new space-efficient multi-storey car park. We look forward to seeing this much-awaited scheme come to fruition.”
During the planning phase, there will be an opportunity for people to comment on the planning application. The council will also carry out more specific consultation with relevant groups.
To keep up to date with the project visit www.eastherts.gov.uk/OldRiverLane
About Hertfordshire Local Enterprise Partnership
Hertfordshire LEP is one of 38 Local Enterprise Partnerships tasked by the Government to drive forward economic growth. We work with private and public sector partners to tackle barriers to growth and to ensure that our people, places, and businesses thrive.
With our Strategic Economic Plan, we have successfully secured over £300m Government and EU funding to date to support our three key priorities which include Strategic Infrastructure, Skills & Employment, and Enterprise & Innovation.
Find out more about our investments to date at www.hertfordshirelep.com.
About the Local Growth Fund
Local Enterprise Partnerships are playing a vital role in driving forward economic growth across the country, helping to build a country that works for everyone.
That’s why by 2021 Government will have invested over £12bn through the Local Growth Fund, allowing LEPs to use their local knowledge to get all areas of the country firing on all cylinders.
Some additional key facts:
• There are 38 LEPs covering the whole of England
• The government has awarded £9.1bn in three rounds of Growth Deals to local areas to drive economic growth.
• LEPs are investing in a wide range of projects including transport, skills, business support, broadband, innovation and flood defences.