Developers working on Nottingham's Island Quarter have pledged that the regeneration of the area will continue despite missing out on £17 million of Government funding. Nottingham City Council had applied on behalf of Conygar for money from the second round of the Government's levelling up fund.
It formed part of a wider £57 million bid from Nottingham City Council, which other projects including the Broad Marsh Frame and Bulwell town centre improvements. But the authority has confirmed it has not been successful in getting money for any of the projects.
The Leader of Nottingham City Council has also vowed the regeneration of Nottingham will continue despite the big disappointment of the Government failing to back the city’s bids for Levelling Up funding for Broad Marsh, Bulwell and the Island Quarter.
The Island Quarter element of the bid would have been used to renovate three heritage warehouse buildings in the area, bringing them back into public use by creating facilities including an open community theatre. The 36-acre site is situated very close to Nottingham Station and a canalside bar and restaurant has already opened there.
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Conygar has now confirmed that its work in the area will continue despite the Government's funding decision. Robert Ware, chief executive of the Conygar Investment Company, said: "We have received notice that Nottingham City Council’s bid for the latest round of levelling up funding has been turned down by the government.
"The funding would have acted as a catalyst to accelerate the regeneration of the heritage warehouses on The Island Quarter site, and we share the city council's disappointment in the result. Despite this decision, we continue to be committed to the regeneration of The Island Quarter and its reconnecting these iconic warehouses with the city and surrounding areas by bringing them back into community use."
Nottingham City Council leader David Mellen said: "Conygar still have exciting plans for the Island Quarter, with a new canalside bar and restaurant already open, work underway on new student accommodation and proposals for a hotel, private apartments, offices including a planning application for a new bioscience building and public spaces in the pipeline."
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