Plans for transformational scheme to regenerate a key site in the
heart of Middlesbrough from next spring have moved forward after
new funding was approved.
Middlesbrough Development Corporation (MDC) has agreed to provide
a further £7million to breathe life into Gresham with the
development of a new hotel alongside professional living and
student accommodation.
The approval by MDC Board members on Thursday (December 19) takes
the full amount of support to £11.5million and progresses plans
for initial site works to begin in April, with construction
forecast to start in summer 2025.
Tees Valley Mayor Ben Houchen said: “For far too long this site
has stood derelict but we are now getting on with the job of
delivering a first-class hotel and accommodation scheme which
will transform this area.
“Our Development Corporation is getting on with the job of
regenerating Middlesbrough by bringing jobs and investment and
this decision means we will soon have spades in the ground and
construction under way.”
Middlesbrough Development Corporation has teamed up with
experienced property developers iMpeC and Buccleuch Property to
deliver a project to rejuvenate Gresham.
The aim is to offer high-quality accommodation to attract and
retain talent in the town, support the growth of Teesside
University, and aid the regeneration of Middlesbrough by
attracting up to 4,000 jobs.
The funding approval is the latest development on the project. It
was announced in October that international hotel brand Fairfield
by Marriott is in discussions to open a new 200-bedroom hotel at
the corner of Borough Road near Union Street and Hartington Road.
Wates has also been recently appointed as the lead construction
contractor on the development.
A planning application for phase 1 of the development is expected
to be submitted in January.
It will seek approval for more than 230 build-to-rent properties,
and a new block to offer student accommodation for more than 400
people.
iMpeC Director Neil McMillan said: “The MDC board's decision to
approve the next stage of funding is a pivotal step forward,
demonstrating our shared commitment to delivering a
transformational scheme for Middlesbrough. This project will
introduce a new choice of housing, helping to attract and retain
talented individuals while supporting the growth of local
businesses.
“The funding enables us to move ahead with planning, detailed
design, and construction procurement. With this in mind, our
construction partner, Wates, will soon engage with the local
supply chain, ensuring a significant portion of the investment
stays within our region.”
