Long awaited work on the controversial Armada Way scheme will start in the next few weeks.
The City Council Cabinet has agreed the construction costs of the scheme, with the lion’s share being paid by external contributions from grants and developers.
Subject to call-in, contracts with the construction company will be signed shortly and following this, work is scheduled to start in early October.
The cost of the construction is now £29.89 million. This will be paid for by external Government grants (Transforming Cities Fund and the Future High Streets Fund), contributions from developers, funding from the Climate Emergency Investment Fund, council borrowing and receipts from the sale of surplus property.
This means that the direct cost to local taxpayers for the construction of the Armada Way scheme is £11.2 million, just over 38 per cent of the overall construction costs.
Councillor Tudor Evans, leader of Plymouth City Council, said:
“Let’s be clear, creating a city centre that we all can be proud of cannot be done on the cheap. Construction costs have gone up exponentially in recent years – the cost of materials alone has more than doubled.
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“We are trying to create something really special that will be a real focal point for our city. Plymouth deserves the best as we embark on a new chapter for our unique city centre.”
Steve Hughes, chief executive of the City Centre Company, said:
“We are delighted that work is about to start on this important project and excited about the possibilities it gives us to put on more events and activities to attract more visitors and investment. It will give the city centre and our businesses a new confidence.”
The construction will be over a period of time – with the first phases of work focussed in the Beckley Point and the Copthorne Hotel part of Armada Way, which will start in October and run through until June 2025.
Cllr Evans added:
“We know that the work will take around 21 months to complete and over the next few weeks we will be working with local businesses and traders to help them understand the impact of the construction and ensure that we can put mitigations in place to ensure that access and deliveries are not restricted.
“I would like to thank everyone who has supported this project so far, from the local businesses – who are desperate for a new and improved city centre, to all local people who participated in our consultation. Thank you.”
“Together, we will get there and make Armada Way a space we can all be proud of.”
For more information visit www.plymouth.gov.uk/armada-way
