Peterborough City Council have submitted a bid for a share of the government’s Levelling Up Fund to develop the area around Peterborough Train Station.
The bid totals around £48 million, however additional funding will be provided by the council, as well as two rail companies. This funding will be used to improve the passenger experience and encourage more rail travel.
Dr Nik Johnson, Mayor of Cambridgeshire and Peterborough, said:
“The Combined Authority has worked closely on the bid with Peterborough City Council, which will drive the enterprise forward if the pitch wins through. Regenerating the Station Quarter would uplift not just but the whole Cambridgeshire and beyond, helping take the east of England to a new level, and making Peterborough itself greener and ever more welcoming to visitors, investors, and businesses.”
A new western entrance, along with a car park, will be added to make the station double-sided and increase capacity. The easing of traffic on the city centre roads that this will lead to will also make it safer for those travelling around the city using forms of active travel.
Leader of Peterborough City Council, Councillor Wayne Fitzgerald, said:
“This is a once lifetime opportunity for our city centre. It will cut carbon emissions and make our city easier and safer to walk around, while stimulating business and providing economic benefit to our city – both during and after construction.”
Another development will be an increase of the number of green areas in the city centre, as well as community spaces and better connections. All of the projects included in the levelling up bid will not only ensure that the city remains well connected to the key areas of Eastern England but will also help to support the city as it looks to attract more investment and high-level employers.