Townhouses, flats, and inspiring public spaces will be developed as part of a deal worth over £12 milion signed on Wednesday, 5th September, to continue the renaissance of Newcastle's Ouseburn Valley.

The City Council and the Homes and Communities Agency (HCA) have signed a framework agreement with Carillion-igloo Ltd - a joint venture company formed between the igloo Regeneration Partnership (an Aviva Investors Fund) and Carillion plc, allowing a number of key sites to be developed throughout the Lower Ouseburn Valley as a part of the HCA's Economic Assets Programme.


The agreement paves the way for a series of new developments, starting later this year with over 70 homes on the east bank of the Ouseburn River, and will include a public space and buildings at Malmo Quay, the partial redevelopment of Spiller's Quay, and the creation of a commercial hub at Lower Steenburg's Yard.

The proposals would build on more than a decade of improvements, including the recent addition of a tidal barrage at Glasshouse Bridge, a riverside walkway, and the launch of the Toffee Factory as the new landmark home to a number of creative businesses.

Pat Ritchie, Chief Executive of the HCA added: "The redevelopment of the Lower Ouseburn Valley will provide a vital boost to the local economy by creating jobs not only during the construction phase but also for the businesses that will be based here. The success of the Toffee Factory shows what can be achieved through partnership working and we look forward to continuing this work with the council and Carillion-igloo to help create one of the best Neighbourhoods in any city in Europe."

(CD)