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21 March 2014, 13:24
A car park in the centre of Bournemouth has been identified as a site for a hundred new homes.
Bournemouth Borough Council's Cabinet will consider the development proposals for Berry Court car park, near Bath Hill, next week (26 March) as one of the next round of recommended Bournemouth Development Company sites.
The proposals include a residential development of up to 100 homes and 155 space public multi-storey car park which means that no car parking spaces will be lost due to the development.
The Bournemouth Development Company is a 50/50 partnership with Morgan Sindall Investments. Cabinet recently approved the Bournemouth Development Company's business plan with identified the sites to be developed as part of phase two of this ground-breaking initiative.
The proposals for the site will help to meet the Council's objective of providing more accommodation in the town centre to strengthen the competitiveness of Bournemouth and adding to the vibrancy of the town. It is estimated that for every extra 200 people living in the town centre, there is an additional spend in the town of £1.0 million in the local economy.
The Leader of the Council, Councillor John Beesley, said:
"The first developments at Madeira Road and Leyton Mount are nearing completion. Bournemouth is starting to reap the rewards of the Bournemouth Development Company, our equal partnership with Morgan Sindall Investments.
"With the addition of Berry Court, we are entering the next exciting phase of development which will mean we can accelerate our delivery of new homes in Bournemouth. These are desperately needed, but we will not lose public parking which is so vital to the town?s economy and for workers in this area."
If Cabinet accepts the outline recommendations for residential and parking provision at Berry Court, the Bournemouth Development Company will then submit a planning application for the development. As part of this phase of work, the Bournemouth Development Company will undertake detailed design, obtain a fixed price for the construction works and seek funding from private investors. If progressed, work on the site is likely to start in May 2015.
The Town Centre Vision is a key deliverable for the Council as part of its Thriving Economy and Improving Environment priorities. In 2008 the Council carried our extensive public consultation on ?A Vision for Bournemouth?. This helped to highlight that there would be a number of different steps needed to achieve the Town Centre Vision including the preparation of a co-ordinating plan and up-to-date planning policies for the area.
The co-ordinating plan, which was adopted in March 2013, is known as the Town Area Action Plan. The policies contained within the AAP will:
· Deliver between 1,500 and 2,000 homes
· Promote enhancement of the existing environment, streets and spaces
· Support new and well designed buildings
· Encourage year round and varied activity for all ages
· Deliver around 23,000 sqm of additional retail floor space
· Help create new jobs, including around 3,000 office jobs
· Implement a sustainable transport strategy
· Support additional tourist accommodation, community, leisure, culture and entertainments
The plan is being delivered through private initiatives and the Bournemouth Development Company LLP.
Bournemouth Development Company LLP: The Bournemouth Development Company is a 50/50 public-private partnership between Bournemouth Borough Council and Morgan Sindall Investments. The aim is to deliver improvements to Bournemouth town centre without impacting on council tax. Under the partnership, the Council invests land assets including car parks when development is imminent. The assets investment is matched in cash value by Morgan Sindall Investments. Both partners maintain a 50% share in the assets, the partnership and the profits arising, with the share of profits reinvested in new sites, infrastructure and open spaces. The Bournemouth Development Company will look to develop sites through a more holistic approach over the next 20 years, the projected life of the partnership.