Liverpool secures massive financial injection
Liverpool is set to undergo a significant transformation, as the city receives a £31 million investment package announced by Michael Gove, Secretary of State for Levelling Up, Housing and Communities.
The funding will be primarily directed towards the development at Paddington Village in Liverpool's Knowledge Quarter Innovation District. This investment will help accelerate Liverpool's future as a world-leading science and innovation hub, as stated by Cllr Liam Robinson.
The majority of the funding, up to £13 million, will be spent on acquiring sites and remediation for Paddington South, the second phase of Paddington Village. An additional £13 million will be allocated to the development of HEMISPHERE One, a new eight-storey Grade A office with up to five floors of new labs.
HEMISPHERE One is a £60m scheme to be delivered by Sciontec, a partnership between the council, the University of Liverpool, Liverpool John Moores University, and Bruntwood SciTech. The 115,000 sq ft scheme, which is set to be complete by early 2027, will include 80,000 sq ft of lab space in the building's top five floors.
Cllr Robinson believes that HEMISPHERE One will be a fantastic asset to the city, creating lab-based jobs for decades to come. He also stated that the funding for Great Homer Street Market is welcome, as it will ensure its growth in North Liverpool. Up to £5 million will be used to enable an upgrade for Great Homer Street Market, allowing for its expansion to attract more traders.
The funding will support an 'arc of opportunity' across the city to Bramley Moore Dock, as stated by the minister. Cllr Robinson's vision is for Liverpool to become one of Europe's leading centers for research and development in the life-sciences.
The funding announcement follows the Interim Report of the Liverpool Strategic Futures Panel, chaired by Metro Mayor Steve Rotheram. The images provided are from Liverpool City Council and Laurie Byrne.
While the exact project details, timelines, and breakdowns of the use of funds may be found in local council or developer announcements, this investment package is aimed at transforming Paddington Village into a vibrant innovation district and revitalizing Great Homer Street Market. The overall goal is to enhance the city's overall appeal to attract further investment and more jobs.
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