Torbay Council has arrived at a significant milestone in its next steps to deliver transformational regeneration across the Bay.
Following the conclusion of a procurement process for the appointment of a Regeneration Partner, a preferred bidder has been identified to deliver a number of schemes in Torbay.
Through the Town Deal fund in Torquay and the Future High Streets Fund in Paignton, there are several important regeneration projects which the Council want to accelerate. Recognising that due to Covid, the rise in the cost of materials and changes in the construction sector, the Council has opted to seek a regeneration partner to support Torbay in delivering these schemes.
On Tuesday 17 October, Cabinet will consider the recommendation that the Director of Pride in Place, in consultation with the Cabinet Member for Place Services and Economic Growth and the Director of Finance, be given delegated authority to establish a partnership with the preferred Regeneration Partner.
Councillor Chris Lewis, Cabinet Member for Place Services and Economic Growth, said: “This is an important milestone in our exciting plans. Following our attendance at UKREiiF, an investment and development conference held earlier this year, we received high levels of interest about our plans to improve and regenerate the Bay. Over the summer we have spoken to a range of potential developers and have been delighted to receive proposals from two organisations. Each of them credible, experienced and capable organisations.
“We want to deliver exciting regeneration schemes for our community, providing spaces for them to thrive. Discussing at Cabinet this proposal of a preferred partner is a great step forward. We expect this will provide assurance to the community, government and potential funders and occupiers about our determination to make this positive change.”
Following the meeting of Cabinet, if the decision is to progress, the detail of the relationship with the preferred partner will be developed. If that is the case, the Council expects that it will be able to confirm the regeneration partner in November.
The report to be considered by Cabinet, along with the full agenda for the meeting, can be found on Torbay Council’s website: https://www.torbay.gov.uk/
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