Bristol is set to benefit from its biggest ever regeneration project as levelling up funding aims to create thousands of new homes and jobs in the city.
The regeneration of Bristol Temple Quarter will be given £95 million worth of government funding that will see 10,000 homes and 22,000 new jobs delivered ‘in a series of new sustainable and inclusive communities.’
With the government’s levelling up funds intended to address regional inequalities and provide opportunities for those who previously were lacking, this scheme will focus on a highly deprived area of Bristol and will offer new, affordable homes, generation of skills, training, and employment opportunities as well as improving transport infrastructure to boost regional economic growth and productivity.
Neil O’Brien MP, Levelling Up Minister, said:
“Building new homes in the places they are most needed and regenerating our towns and cities lies at the heart of the government’s levelling up mission.
It’s fantastic to be in Bristol today to see this levelling up in action; central government working with local leaders and industry to grow the economy, delivering the high-quality new homes this country needs and breathing new life into neglected places.”
Another significant development will see transport improved in the city, as Temple Meads railway station will get three new or significantly improved entrances to the north, south and east which will mean that the station will connect neighbouring areas, as opposed to severing them. Transport connections will also be further improved by the recent securing of £540 million thanks to the City Region Sustainable Transport Settlement awarded by the government and a £132 million investment with West of England Combined Authority to improve the connectivity between Bristol and its neighbours in the West of England.
These developments are set to be unlocked by 2032 and will focus on the areas immediately around Bristol Temple Meads station.