Liverpool Waters, an ambitious 30-year vision, has been pitched to completely restore the city’s northern docks.
The transformative plan aims to create a park spanning 568 acres of the city’s waterfront, bringing the northern dockland back to life and being a catalyst for attracting the 7.2 million people that live within commuting distance to Liverpool’s city centre.
The estimated budget for Liverpool Waters is £5bn, making it one of the largest regeneration projects within Europe alongside Liverpool’s other multi-billion tech plan that aims to reinvest 5% of its economy on research and development by 2030.
Peel L&P’s development director for Liverpool Waters, Chris Capes, says: “Green space has never been so important. Not only for our physical and mental health and wellbeing but also as a way of absorbing air pollution. Being able to create a new large public park at the heart of the city in an urban environment is really exciting.”
The development team behind Liverpool Waters envisions the site to host 3,800 new low carbon homes,116,000 sq m of new office space, 25,000 sq m of restaurants and bars alongside a public park.
The development site will sit besides Ten Streets, a 125-acre development opportunity focused creating an enterprise industry hub with the potential of creating 2,500 new jobs. Ten Streets is home to Titanic, a hotel that has led the charge for regeneration in the area. Successfully progressing the project’s hospitality sector and heightening the investment opportunity in the area.
Both projects will bean important factor in Liverpool’s future economy, centering on the city’s sustainability and heritage.
Whilst some have criticised the regeneration project for not being quick enough with its developments, director Chapes disagrees with this train of thought: “We'd definitely push back on criticism that development hasn't been quick enough and the vision is taking longer to materialise. We’ve delivered 660 homes on site since March 2019.”
The docks are an important aspect of Liverpool’s heritage, and the regeneration project aims to respect the destination whilst providing the people that visit a place to relax with friends and family.
With the consistent news of development from Liverpool, it’s easy to see why investors are looking fondly upon the northern city.
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