Brighton & Hove City Council has struck a deal with developer U+I to deliver a £300 million regeneration scheme in Brighton.

The Preston Barracks site in the Lewes Road area of the town is to be transformed into a mixed-use site featuring hundreds of new homes, student halls and business space.

U+I's proposals include 369 new homes, 534 student beds (a partnership with Scape Student Living), and a 50,000 sq ft innovation hub for start-up businesses and entrepreneurs. In addition, the developer will deliver new public streets and squares, edible landscaping including fruit trees and vegetable growing areas and a 1km fitness route with outdoor play space and exercise equipment. Improved transport links will also be developed between neighbouring residential areas and the train station.

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Overall, the scheme is expected to deliver more than 1,500 new jobs, 369 homes, 1,338 student beds and bring £281m into Brighton & Hove's economy over the next ten years

Demolition work on the buildings currently at the site is almost complete and main building works are scheduled to begin imminently. The whole regeneration, designed by Studio Egret West and TP Bennett, is expected to be completed by 2021.

Council Leader Warren Morgan said: "This is an enormous boost for homes, jobs and businesses in the city, a landmark development finally making good use of a site that has been derelict for decades.

"It's a great step forward for the University of Brighton and will provide a significant amount of student accommodation that will help reduce the pressure on our housing stock. The city council is pleased to be part of this creative partnership regeneration project with U+I which will bring huge benefit to the city and to the community around Lewes Road."

Richard Upton, Deputy Chief Executive of U+I, said: "We are delighted to complete this agreement and press on with regenerating Preston Barracks. Our goal is to transform this run-down area of Brighton and deliver a stunning and exciting new place that befits the inspirational city of Brighton & Hove.

"We are now on site delivering one of the most significant regeneration projects in the history of the city – a great example of what effective public private partnership can deliver."

(LM/MH)