Homes England has kickstarted the process to find a developer-partner for a £950m contract that would create a new 2,500 home neighbourhood in Newcastle upon Tyne.
Alongside its partners – Newcastle City Council, the North East Combined Authority and Network Rail – the agency is seeking to take forward the regeneration of the Forth Yards site next to Newcastle Central Station, the last major underdeveloped water frontage area of the city.
Forth Yards is 21 hectares (51.9 acres) in size and has the potential to create a new neighbourhood of around 2,500 new homes and more than 15,000 sqm (161,500 sq ft) of commercial space. The immediate opportunity for the delivery partner relates to the Quayside West site which would accommodate 1,100 homes.
Homes England said: “The partners aspire to see development of a residential led, well connected, mixed use and sustainable new community that integrates well into the existing fabric of the city. The opportunity for Forth Yards to be transformed into an exciting new neighbourhood, knitted into the fabric of the city, which unlocks future waterfront development to the west of the city is supported by all partners.
“Over the past 18 months, the partners have been working together to prepare a robust approach to redeveloping Forth Yards, concluding that a long term – private sector – delivery partner is needed to deliver to realise the full potential of Forth Yards.”
The Agency is conducting a market testing exercise until 12 May with publication of the tender notice expected on 31 July. Read more.