Members of the Council's Cabinet will be asked at a meeting on 22 September to decide whether to choose the north or south of the city centre for the first phase of the £1billion Jerde masterplan which will create double the amount of shops, new homes, roof top parks, the Sherbourne river walk and a new, relocated round market in the city's biggest redevelopment scheme of the past fifty years.
Council officers are recommending that work should start in the south over an area which includes the Market, Barracks car park, Shelton Square, Bull Yard and City Arcade, rather than the north which includes Smithford Way, West Orchards and Burges.
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Councillor Gary Ridley, Cabinet Member for City Development at the Council, said: "The arguments for starting in the south stack up convincingly – it's more commercially viable and means we can provide our market traders with a new round retail market as quickly as possible. We also think we're tackling the most rundown and tired parts of the city centre first. I know from talking to Coventry people how much they want to see these particular bits of the city transformed.
"The south will also mean we're linking a new city centre more quickly with the Friargate scheme at the railway station, and also gives us the space to provide another high priority for residents."
Andy Butler, Development Director at Explore Investments, part of Laing O'Rourke, said: "We are excited to be a partner in the regeneration of Coventry City Centre. We have a long history of working with the people of Coventry and are looking forward to continuing this relationship."
(CD/BMcC)
