Plans unveiled for £250m digital city project in Middlesbrough, UK

Middlesbrough

October 15, 2019 – Middlesbrough mayor Andy Preston and Tees Valley mayor Ben Houchen have unveiled a £250m project in Middlesbrough to transform it as the UK’s digital city.

 

An initial £45m phase of the project will include the development of three 20-storey towers for office and residential blocks.

 

It will also include a digital campus, a 750-seat indoor amphitheatre beneath a glass atrium and a 400-seat outdoor amphitheatre to host events like lectures, cultural events and entertainment.

 

Work on the first phase is expected to start in summer 2020 and will create about 400 construction jobs in the region.

 

Upon completion, the project will transform Teesside’s skyline and create 1,000 new jobs in the digital and creative industries, increasing to 2,000 jobs in the next phases.

 

Preston said: “This is a £45m first step of a quarter of a billion pounds scheme that will propel Middlesbrough on a journey to become the UK’s digital capital – bringing investment, jobs and prosperity to the town.”

 

Houchen said: “Our region is already home to some world-leading digital businesses and we’ll be able to offer cutting edge accommodation in the heart of the oldest part of Middlesbrough, bringing well-paid jobs to the town.

 

“This will be adjacent to two new residential towers, new shops and facilities which will make this a great place to live as well as work.”

 

The office development will entail an investment of £30m. Tees Valley Combined Authority is providing £26.5m in financing for the office project while the Middlesbrough Council will contribute £3.5m with an additional £15m investment in residential development by a third party consortium.

 

Houchen further added: “Through the funding which was agreed in January, we have already bought Teesside International Airport and more than half of the developable land at the South Tees Development Corporation as we push on with transforming Tees Valley.”

Source::-http://www.worldconstructionnetwork.com/news/plans-unveiled-for-250m-digital-city-project-in-middlesbrough-uk/

0 Comments

Leave a Comment

Login

Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password

Register