£2 million grant to help kickstart Minster quarter project in Reading
The council want to 'transform' part of the town centre
Reading Borough Council has successfully bid for £2 million of government funding to help kickstart the regeneration of the Minster Quarter in the town centre.
The regeneration of the Minster Quarter is a Council-led project to transform a significant area of the town centre by building hundreds of new homes – including much needed affordable housing – bringing with it new jobs and growth which will benefit local residents and the local economy. The Council is seeking a development partner to help deliver its longer term ambition.
The Brownfield Land Release funding pot is intended to contribute towards preparatory works which will help unlock sites where new homes, new communities and new facilities will be delivered. In Reading, the money will be used to prepare for the first phase of the Minster Quarter regeneration, which runs adjacent to Hosier Street and is made up of approximately 187 private and affordable new homes.
Preparatory work includes site preparation, involving the removal in part and strengthening of the exiting concrete structure that links the wider Minster Quarter development area together, preparing access roads for future development and providing new services and utilities to this phase.
Councillor Jason Brock, Reading Borough Council Leader, said:
“This new funding will help the Council begin to lay the groundwork for these major future developments by enabling some key infrastructure works to take place.
“The Minster Quarter is a far from straightforward development site, with a variety of land ownerships and interests in play. We will work with those various owners to help deliver this ambitious housing and employment hub, with a focus on great public realm, becoming an exemplar zero carbon scheme and providing desperately needed affordable housing.
“In recent months, Reading Borough Council applied for Government grant funding to bridge the funding gap required to deliver the first phase of Minster Quarter and will be working with the surrounding landowners to make further bids to Central Government when opportunities arise.”