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Stephen Mulhern and Emma Willis 9am - 12pm
20 October 2015, 10:19
A new report claims redeveloping the site would fulfil 10% of Plymouth's housing need, create hundreds of full-time jobs and generate tens of millions of pounds for the economy every year.
Regeneris, a leading independent economic research consultancy whose clients include the Department for Communities and Local Government and the Homes and Communities Agency, concludes that the redundant site can play a vital role in the economic and social future of the city.
The research-based report shows how the former airport could become a centrepiece of the Plymouth Plan as a new garden suburb that would:
In addition, Plymouth City Council could receive a windfall of well over £50 million, depending on market conditions, from the site being redeveloped because of its freehold interest in the site.
The former airport closed almost four years ago and at 113 acres is the largest brownfield site in Plymouth.
The new development could have 1,600 mixed homes, a hotel, gym, restaurants, local shops and a velodrome.
It'll create 1,300 new jobs and an additional £48 million of economic growth every year by investing in under-used sites along the waterfront.
The company's marina and fisheries activities already support 770 jobs in Plymouth and generate around £28 million a year GVA for the local economy.
Publication of the Regeneris findings comes a week after Prime Minister David Cameron visited Devon to launch his 'crusade' for a million new homes by 2020.