Nottingham City Council has applied for a £3.4m grant to allow further demolition of the former Broad Marsh shopping centre.
The council has bid for the money from the East Midlands Combined County Authority (EMCCA), which is meeting next Monday (16 December) to discuss the award as part of a potential wider allocation of £9.5m to councils and organisations across the region.
It comes from EMCCA’s Investment Fund and the authority has worked with local partners to consider projects that invest in homes, jobs, manufacturing, clean energy creation and greener spaces.
The funding is set to be discussed and a formal decision made during the EMCCA Board meeting in Newark next week.
The city council has bid for up to £3.392m to carry out partial demolition of a section of the frame near to the recently-opened Green Heart. This would then enable works to start on the Broad Marsh masterplan to transform a key part of the city centre.
Councillor Neghat Khan, Leader of Nottingham City Council and Executive Member for Strategic Regeneration, Transport and Communications, said: “This is key funding that the city has bid for to accelerate our ambitious plans for Broad Marsh.
“If we secure the grant at EMCCA’s board meeting next week, this will be a great example of partnership working between the new Regional Mayor and Nottingham City Council, delivering on projects which provide huge benefits to Nottingham and our residents.
“This would help us continue our progress on the Broad Marsh masterplan to transform a key part of the city centre following on from the recent opening of the Green Heart.
“The funding would allow us to bring forward selective enabling-demolition of part of the remaining old shopping centre structure, which is good news for the city and continues our regeneration plans in this part of Nottingham.”
Claire Ward, Mayor of the East Midlands, said: “Broad Marsh is one of the region’s biggest development opportunities and this funding will help towards delivering the masterplan for the site.
“It will go towards the demolition of part of the frame near to the Green Heart and will be an important step in helping to bring forward work on the site.
“The Broad Marsh project has the potential to be a major boost for both the local and region economy – it will create 1,600 new homes, just over 2,000 news jobs, plus visitor attractions and business space. So, it’s an important project for this funding to go to.”
