Derby City Council has signalled the moving ahead of one of its most important regeneration projects by announcing the development partner for the £100 million Castleward Urban Village scheme.

Urban renewal and regeneration specialist Compendium Living will develop Castleward Urban Village, the first phase of which is on land provided by Derby City Council and the East Midlands Development Agency, and helped by acquisitions financed by national housing and regeneration body the Homes and Communities Agency (HCA).

Work will start on the four-acre Phase 1 of the Urban Village scheme, which centres on a pedestrian-friendly boulevard from Derby railway station to the city centre, in spring 2012. The overall scheme, which will include around 800 new homes on brownfield land, is expected to take more than ten years to complete.

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"Castleward Urban Village will be a wonderful development for the city of Derby," said Cllr Harvey Jennings, Leader of Derby City Council. "Castleward will replace a 30-acre brownfield area of the city with a sustainable community of something like 800 homes, including extensive affordable housing, schools and community spaces. It will provide a fantastic lift for the city and embodies our ambition to continue to invest in Derby."

As well as the boulevard, Phase 1 will also include around 70 homes, 2,500m2 of commercial space, community facilities and a new central park/square. The completed scheme will also boast a nursery school and primary school, community facilities, local shops and improved links to Bass' Rec.

"I was delighted to reveal details of the Castleward Urban Village regeneration scheme at MIPIM," said Adam Wilkinson, Chief Executive of Derby City Council. "This is a hugely significant and ambitious development for the city which will kick-start further investment into Derby and is the result of five years of hard work by the City Council and its partners."

(CD/GK)