New Era Developments Secure Funds Worth £27m
14th Aug 2018
Hundreds of student bed spaces could be created as part of a £30 million regeneration project on an area of Leamington's canalside.
Business owners have teamed up to submit an application, after expressing concern about the future in the south town area.
Althorpe Street Developments is looking to build up to 270 student bedrooms and employment space, which is expected to welcome a number of new businesses to the area and create up to 50 new jobs.
The business owners have worked alongside Warwick District Council and Warwickshire County Council to develop the plans. They argued the area is being underused and has suffered from lack of investment. They also say the area has started to attract crime and drug use and hope the work will lead to further regeneration of the area.
The plans have been drawn up by Rickett Architects following a public consultation which attracted thousands of residents.
The developers say the scheme would create a 'canalside culture' for residents, while supporting the surrounding universities.
A spokesman for the developers added: "Being more 'welcoming' to students is an approach which helps to retain graduates in the area with an end benefit of supporting the towns appeal for employers."
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