WE’LL NEED £1BILLION
Top investors to join city summit on development
TOP investors have signed up to attend a major conference designed to kick-start a billion-pound investment in the city.
Leader of Peterborough City Council, Cllr Marco Cereste, will present multimillion pound opportunities for the development of the city to a packed conference on potential investors at the Great Northern Hotel on June 17 – including a pitch for thousands of government jobs which are due to be moved out of London in the next few years.
PETERBOROUGH will be declared “Open for Business” to investors at a major conference designed to kick-start a billion-pound vision for the city.
Leader of Peterborough City Council, Cllr Marco Cereste, will present multimillion pound opportunities for the development of the city to a packed crowd of potential investors at the Great Northern Hotel on June 17.
Key to the council’s plans are regeneration schemes for the South Bank, which includes hundreds of eco-homes and City West, which encompass the retail North Westgate development of the Queensgate shopping centre and the Station Quarter project to revamp the area around the railway station, seen as a vital gateway to the city.
It is estimated that more than £1billion of private sector investment is needed to get both of these schemes off the ground.
Cllr Cereste, who has just taken on the cabinet responsibility for the city’s growth, said: “About 3,000 jobs have been created here so far this year, which is a phenomenal achievement, and we want to capitalise on this and get projects like City West and South Bank off the ground.
“We will show investors our vision for the city and how they can become a vital part of it.”
Work on the first phase of the South Bank regeneration will get underway soon, with a planning application for the 363 eco-home Carbon Challenge development, a £150 million project, expected to submitted in the coming weeks.
But Cllr Cereste has even bigger plans for the South Bank, and wants private investment to realise his dream of a sports village and university on the site, which will include the transformation of the Posh ground into a community stadium with commercial space.
He said: “I want to work on ideas such as a sports village that will attract international quality events to the city.
“A university meanwhile is the single most important thing that has to happen in the city.”