Decision details

To appoint a development partner to deliver the first phase of the waterside regeneration area.

1.         Approve the appointment of Keepmoat Homes Ltd as Developer Partner for Waterside Phase 1; and,

2.         Approve entering into a Development Agreement for the sale, purchase and development of Leicester Waterside Phase 1, Northgate Street on detailed terms to be agreed by the Strategic Director (City Development and Neighbourhoods) in consultation with the City Mayor; and

3.         Add £12m to the capital programme in respect of infrastructure works to be undertaken by the Developer, underwritten by Prudential Borrowing as necessary in advance of the receipt of expected funding.

To enable the Council to progress the first phase of the regeneration of Waterside.

Alternative delivery routes were considered, including encouraging market developers to lead or the Council taking the role of lead developer. The outcome of option testing was that the robustness of the necessary compulsory purchase process and co-ordination of development overall would be best served by the Council appointing a development partner to jointly deliver a scheme.