Mar 9 2007
An innovative development partner is required for a key part of a major mixed-use regeneration project that will bring new opportunities and increased economic prosperity to East Cowes. National regeneration agency English Partnerships and the South East England Development Agency (SEEDA) have launched the developer selection process for the first residential phase of the East Cowes Project, part of an exciting plan to improve the town centre and create an enhanced gateway to the Island.
This first phase of development will deliver approximately 190 high-quality new homes, over 50 of which will be available for affordable rent or shared ownership. Developers are being invited to submit proposals for the 4.4 ha site that comply with English Partnerships’ national quality standards relating to sustainability, design quality, construction efficiency and community engagement. They will also be expected to conform to the Government’s Code for Sustainable Homes. It is anticipated that the preferred development partner will be nominated in July 2007.
SEEDA and English Partnerships, the joint partners in the East Cowes Project, have led a masterplanning process which culminated in the resolution to grant outline planning approval for the entire scheme in July last year. Overall the project will lead to the development of 450 to 550 homes, marine-related employment, shops, bars and restaurants, two hotels, a health centre, a food store, community facility and maritime heritage museum.
Eleanor Purser, Regeneration Manager at English Partnerships said; “As well as helping to regenerate this part of East Cowes, phase one of the project will provide residents of the town with much-needed affordable homes. We’re looking for a development partner who shares our commitment to high environmental and design standards, and who will continue to involve the local community.”
SEEDA’s Development Projects Director, Peter Cusdin said; “The launch of the residential developer selection process marks another exciting new stage in the progress of the East Cowes Project. In parallel, SEEDA is leading on plans for the town square, to include a new food store and health centre. The future announcement of the preferred development partner will provide further good news for the ongoing regeneration of the town.”
Nigel Foster of Savills Southampton, who are acting as English Partnerships’ agents for the developer selection commented; “This is an exciting project and we expect a high level of interest in this first phase from a wide range of national developers. We are inviting expressions of interest in April.”