Peterborough is one of the first to receive cash from the Towns Fund with a payment of £ 4million

An artist's impression of The Vine's appearance, this is not the final design.
An artist’s impression of The Vine’s appearance, this is not the final design.

Today (March 19) a down payment of £ 4million will be transferred from the Department of Housing, Communities and Local Government (MHCLG) to Peterborough City Council, to fund the purchase of the TK Maxx and the old New Look building in Bridge Street as of December 2020.

The 89,000 square foot three story building at 62-68 Bridge Street is about to be transformed into a new downtown library, cultural and community center, named “The Vine”. The building will be a must-see for residents and visitors alike and will bring traffic across Bridge Street along a key downtown route to the New University and the Embankment / River Front and Fletton Quays.

The building could include:

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A brand new library in the city center

Business space with specialized support for start-ups in the digital, creative and design sectors with access to meeting rooms and rehearsal studios.

A learning resource center that could include tests and assessments for T levels (recognized technical certifications).

Gallery space for artists.

An information center for visitors

A study space for young adults

A crèche with informal learning spaces, such as a group reading room for parents with young children

Meeting rooms for council / community use

Support for the voluntary sector

Business activities such as retail and services

Matthew Bradbury, Private Sector Chairman of the Peterborough Towns Fund Board, said: “The MHCLG was so impressed with the Peterborough Towns Fund Board’s quick and well thought-out business case for The Vine, that they were quick to come. to confirm that Peterborough is one of the first to receive cash payment. It’s amazing – further proof that we are a young, vibrant and growing city that is worth investing in.

Councilor John Holdich, Head of Peterborough City Council, said: “Before the Towns Fund arrived, we were already creating our local development plan and thinking long term about what our vision would be for the city. city ​​in 2050. We are a growing city with big dreams for the future.

“Therefore, we had already started to think about these projects and to put in place some groundwork in order to seek investments. It has put us in a great position because it shows that we are excited, impatient and more than that, we have a clear vision of what we want to achieve with projects like The Vine. “

A public consultation on many City Fund projects, including Hub plans, will take place in 2021/22.

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