Newcastle-upon-Tyne development company 1NG will today set out a series of capital projects as part of a 20-year economic and spatial masterplan for the city.
The1PLAN will kaunch a vision to improve Newcastle and Gateshead’s competitiveness, with economic development including Gateshead Quays, the Ouseburn cultural cluster, and Science Central.
Among the capital projects to be proposed in the plan are:
- Creation of the North-east’s first International Conference and Exhibition Centre as part of the regeneration of Gateshead Quays, with a mix of uses including homes, offices, leisure and retail.
- The next phase of development in the Ouseburn cultural quarter, including between 60 and 80 new homes in partnership with the Homes and Communities Agency using £4 million Public Land Initiative funding.
- Acceleration of the development of Science Central. Downing Developments is already on site building 40,000 sq m of offices and teaching space pre-let by Newcastle University Business School. A £30 million student village is due for completion in autumn 2011.
1NG chairman Lord Charles Falconer said: “Everyone knows these are challenging times for the economy and it’s more important than ever we have a clear assessment of our position and a clear strategy for the future.
“The 1PLAN is very timely. It allows us to focus on our shared priorities for making this a more vibrant and prosperous place over the next 20 years.”