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.