The £9.7m is a demonstration of the commitment the Agency has towards the city, and is an example of Bristol being the RDA's top priority as the economic engine room of the region.
The money will be used to help develop the infrastructure of the area in this time the first phase of the redevelopment. It will pay for off-site road improvements, utility supplies and drainage; on-site the construction of roads and landscaping.
Ian Knight, the RDA's Area Director for Bristol, said: "This is a fantastic opportunity to deliver a more sustainable economy for the people of South Bristol, and indeed the wider community."
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He continued: "However, there is lot of hard work to do before we achieve this. The decision to allocate this money is a major milestone in the area's redevelopment. It shows the confidence we have in transforming Hengrove Park into a dynamic and exciting place to live and work."
The 188 acres of brownfield land is the largest development site within the existing urban limits of South Bristol. It contains the greatest current potential to immediately contribute to the regeneration and economic development of the wider South Bristol area.
The money is broken down into £1.2m which has already been allocated to the redevelopment and £8.5m of new money. The RDA has been working in partnership with the council on this project for a number of years.
Subject to planning permission, the investment will help to deliver for South Bristol: a new community hospital; a major leisure facility, including both family-oriented swimming and leisure facilities and an Olympic-sized pool; a skills academy; a major new business headquarters building, potentially employing 1200 people initially; and the release of other land for commercial and residential developments. All this will be complemented by a major public park and other improvements to the environment. Hengrove Park will ultimately deliver 75,000 sq m of employment space and up to 2,500 jobs.
(JM)
