The agreement between Mace and Stevenage Borough Council builds on a vision for regeneration scheme by the Council over several years and seeks to create a whole new quarter of the town centre
With a gross development value of around £350m, SG1 is one of the largest and most ambitious town centre regeneration schemes in the region. It is a clear expression of confidence in the future of Stevenage and its town centre.
The mixed-use regeneration scheme includes plans to create a series of new streets within Stevenage, as well as a redesigned, modern Town Square which will complement and enhance the unique architectural heritage of Stevenage.
The plans will boost the vibrancy and economic vitality of the town centre, providing new residential, retail, restaurant and leisure uses for the residents of Stevenage.
The development will also create inviting new public spaces, alongside a public services hub that will bring together key council services in a single building. The hub will include a new library and health facilities, allowing residents easy access to high quality services at one location.
Residents and businesses will be invited to have their say through a comprehensive consultation exercise planned for this summer.
Work is expected to take place over several phases with the first construction project commencing in 2020.
David Grover, Mace’s Chief Operating Officer for Development, said: “This agreement marks a major step forward for the transformation of Stevenage town centre. With a contract agreed we can now get started in earnest in delivering the regeneration of the town centre – I look forward to seeing our exciting plans come to life.”
Sharon Taylor, Leader of Stevenage Borough Council, said: “This is an exciting time for Stevenage and the future of our town centre. Signing this deal with Mace highlights our ambitions to grow our town and improve the services and amenities we currently offer to residents.
“We’ve seen a number of smaller projects already completed in our town centre as part of the regeneration programme including Market Place, Vista Tower and more, but SG1 will be one of the critical elements in driving significant, positive changes to our Town Centre. We’re delighted to have Mace on board and can’t wait for development to get underway.”