Liverpool is set for ‘transformational’ regeneration after Mayor Steve Rotheram revealed plans to create a Mayoral Development Corporation.
The MDC will fast-track schemes in partnership with Liverpool Council leader Liam Robinson via devolved powers which could see 17,500 homes and 5 million sq ft of commercial space delivered in the next 15 years.
The proposed development zone, which would be the first of its kind in the region, would focus on building on the momentum created by Everton Football Club’s new Hill Dickinson Stadium at Liverpool Waters.
This zone, which would encompass 174 hectares of mainly brownfield land from the River Mersey to the city’s Pumpfields and commercial business districts, would also bring together a trio of major schemes.
The Central Docks development, including a new urban park, backed by a £55 million government grant – alongside £26m direct investment from Peel Waters – is due for completion in 2028.
The emerging £1 billion development at King Edward Triangle will also be encompassed within it, as well as Liverpool’s first major Grade A office scheme in a decade at Pall Mall.
The proposal builds on the Liverpool Strategic Futures Panel’s Final Report, published last March, which recommended steps to establish a regeneration delivery vehicle.
An MDC is a statutory body designed to accelerate regeneration within a defined area, with powers to bring land forward, deliver infrastructure and use flexible financial tools and other powers to get development moving faster.
The work of the MDC, which will take about 12 months to legally establish and could instigate other development zones, would also be a key component in accelerating the delivery of £11bn of planned infrastructure investment across the Liverpool City Region, supporting new jobs, better public transport and sustainable economic growth.
The announcement comes as Liverpool hosts the UK Mayoral Council, chaired by Steve Reed MP, Secretary of State for Housing, Communities and Local Government.
It follows last month’s landmark £700m devolved housing settlement for the Liverpool City Region, giving local leaders more control over building the affordable, high-quality homes the region needs.
During the visit, the Minister and the Mayor will tour key North Docks development sites, including Central Docks, where work is already underway to deliver around 2,350 new homes, including affordable and build-to-rent housing, backed by £55 million from Homes England.
“Liverpool’s iconic waterfront is one of the greatest assets in the country – but for generations, huge parts of the North Docks have stood as a reminder of the jobs and opportunities we lost after decades of post-industrial decline,” said Mayor Steve Rotheram.
“Local people have waited far too long to see this area brought back to life but, working in partnership with government, we’ve now got a once-in-a-generation chance to put that right.
“We only need to look at the transformation of the Albert Dock to see what can happen when we back a bold, long-term vision. With Everton’s new stadium rising on the Mersey and partners pulling in the same direction, the North Docks can follow that same journey – from derelict land to a place that local people are proud of and visitors want to be part of.
“By bringing our plans, powers and investment together through a new development corporation for the area, we can unlock one of the biggest brownfield sites in the country and turn it into thousands of good homes, decent jobs and a proper community where families can thrive.
“And with the £700m housing settlement we’ve just secured, we finally have the tools to get things moving. This is about giving the North Docks the future it deserves – and making sure local people feel the benefit of the opportunities that come with it.”
Councillor Robinson added: “This will create real opportunities for residents and businesses across Liverpool. The North Docks have the potential to deliver thousands of new homes, modern workspaces and vibrant public spaces that will improve the quality of life for residents and attract investment into the city.
“By unlocking this area, we can generate thousands of jobs, support local businesses to grow and strengthen Liverpool’s position as a thriving economic hub. The Mayoral Development Corporation gives us the powers and focus to turn ambition into action – ensuring regeneration happens faster, benefits local communities and drives sustainable growth for the whole city region.”
Craig Scott, CEO at Hill Dickinson, added: “We strongly welcome this latest investment in the future of Liverpool’s waterfront. The opportunity to support and accelerate the regeneration of the new development zone was a key factor in our decision to invest in Hill Dickinson Stadium – something which we believe is already proving transformational for the city region.
“Existing Mayoral Development Corporations have proven their ability to significantly enhance communities and generate momentum through external investment. With Liverpool’s waterfront being one of the North’s most significant assets, we look forward to the positive impact the model will deliver here.”