A major £170million development in Truro city centre including new homes, a university campus and leisure facilities would be a “vibrant new neighbourhood and destination”.
Cornwall Council’s economic growth and development overview and scrutiny committee is due to get an update on the Pydar Regeneration scheme when it meets today (Tuesday, January 12).
A report on the project suggests that outline planning permission could be granted next month and that demolition work could start in April.
The project is aiming to redevelop a major part of the city centre which includes the former Carrick District Council offices, Viaduct car park and buildings including Truro Bowl.
Councillors will hear that an agreement in principle has been reached with Falmouth University which is looking to create The Hive campus at the site which would have a focus on screen and digital sectors.
As well as around 300 new homes being built on the Pydar site there are also plans for student accommodation.
The plans also include new shops, bars and restaurants, leisure facilities and a hotel.
Under the proposals the development has been split into phases and a reserved matters application for phase one is expected to be submitted at the end of March.
Phase one will include housing, food and drink outlets, bowling alley and a community facility. It will also include “extensive public realm” facilities including a public square and there will be roadworks to Pydar Street and St Clement Street which will “create a low speed environment”.
The report going to the scrutiny committee states: “We have a shortlist of potential funders and are in advanced discussions to secure the full £170m development costs.”
It states that there has also been interest shown for the planned office space, hotel, leisure, bowling and food and drink facilities.
The report says: “The proposed scheme will regenerate a run-down area of the city and help create a vibrant new neighbourhood and destination for Truro. The project will pioneer new ways of living, learning, working and playing, helping to transform Truro into a creative city, fit to lead Cornwall into a successful and prosperous future.
“The project will deliver innovative work and learning spaces, together with an exciting riverside park and range of engaging leisure, hospitality and cultural facilities and events. The project will offer the opportunity to improve walking and cycling links up the Kenwyn valley and will improve social inclusion. It will be a place where people of all ages will mix together and want to live, learn, work and play.”
New housing will include 35 per cent affordable housing and there will also be 17,000 square metres of employment space.
The report adds: “The regeneration of a complex site such as this, in a sensitive location, is a major scheme and one of the largest the Council has ever pursued.”
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