Ambitious plans to create a multi million pound investment in Cardiff’s city centre establishing a Central Business District, creating thousands of jobs and making major improvements to city’s infrastructure will become reality with the announcement of a funding package from Cardiff Council and the Welsh Assembly Government.
In a landmark announcement Cardiff Council has confirmed that investment of up to £160m will be secured for the city as a result of the establishment of a new blueprint for growth which will see the Welsh capital firmly established as an economic powerhouse.
Funds of up to £60m including £21m from WAG have been earmarked for the scheme and a further £100m is also expected to be ploughed in from private sector investment.
The vision, which will help to rejuvenate the entire region, will :
- Attract further blue chip companies to the city creating thousands of jobs
- Deliver four million square foot of office space on land stretching 140 acres from the bus station past Callaghan Sqaure and into Cardiff Bay
- Establish a Convention Centre which will boost the economy by £46m each year
- Create a new gateway to the city centre
- Establish an integrated transport hub with first class transport facilities
- Create a better link between the city centre and Cardiff Bay
Council Leader Cllr Rodney Berman has hailed the plans which have been announced after months of lobbying by senior politicians and officers at Cardiff Council.
“This truly is a red letter day for the city and I am delighted that the months of lobbying and hard work by myself and my colleagues have come to fruition and funding has been secured to enable us to move forward with our ambitious plans for a Central Business District for Cardiff.
“This is the start of a new economic blueprint for the city and it will firmly establish us not just an economic driver for the city region but a powerhouse for the Welsh economy.
“We are thrilled that in these times of economic uncertainty we have been able to unveil such far-reaching plans and are now in a position to move forward with this exciting vision which is going to help us deliver more jobs, investment in transport and new gateways to the city.
“As a Council we have made it very clear that we will do everything we can to support the expansion and creation of business in the city and this just further underlines our commitment to ensuring that we continue to move forward and do all that we can to make sure Cardiff continues to prosper and grow.
“We are excited about what this means for the future of Cardiff and Wales and are delighted that the Welsh Assembly Government has recognised our vision and committed funds to help make this happen.”
The funding will be used to provide an environment for city centre business facilities in and around Central Square as part of the first phase of the creation of a dedicated business district in the city.
Work towards creating a Convention Centre as part of the Central Business District will also begin with the start of a procurement process.
As part of the package, Cardiff Council has agreed that the Welsh Assembly Government will be able to replace a previous commitment to improve the infrastructure around the Herbert Street Bridge in return for funding towards wider transport enhancements and business generating projects, which will include a new central bus station establishing a new gateway to the city.
Works to improve the public areas around Callaghan Square as well as improve highway network (for vehicles, pedestrians and cyclists) in the vicinity of Herbert Street will also be undertaken and result in better links between the city centre and Cardiff Bay.
Cllr Berman added. “I am very much looking forward to seeing this vision come to fruition and am delighted that we are going to be in a position to help create thousands of jobs for the region. These are truly exciting times for Cardiff.”
