Football stadium, concert venue and thousands of homes and businesses in new vision for Development Corporation to power growth of Peterborough

If created, the proposed Mayoral Development Corporation would bring together local politicians, business leaders and development, property and finance experts and will have new powers to drive through its development plans for the city.

Equipped with a range of powers, it is hoped the Development Corporation could help see the creation of a new football stadium, concert venue, secure the construction of thousands of new homes, businesses and even unlock difficult to develop sites, such as North Westgate.

However, approval to create the Development Corporation has to be granted by the Government.

And the Mayor of the Cambridgeshire and Peterborough Combined Authority, the leader of Peterborough City Council and Peterborough’s MP have set out a united case for action to unlock the city’s next phase of growth in a a joint letter to Matthew Pennycook MP, Minister of State for Housing and Planning seeking the go ahead.

Paul Bristow, Mayor of the Combined Authority, said: “Peterborough needs the tools to get things done.

“The Local Growth Plan is clear about where we’re going, and a Development Corporation is about how we get there, joining up land, infrastructure and investment so growth works for communities.

“This is a moment Peterborough should seize.

"We have alignment, ambition and opportunity.

“When we work together, Peterborough delivers. That’s been true before, and it can be true again.”

Peterborough MP Andrew Pakes said: “Peterborough is an amazing place with a proud history of rolling up its sleeves and getting things done.

"Our past proves that when Peterborough gets the investment it deserves, we become a hotbed of industry and growth, and our future deserves nothing less.

“This Development Corporation is our chance to change that, to turn momentum into action and unlock Peterborough’s full potential as a powerhouse of industrial and technical excellence.

"If you look at what we’ve already achieved by working together: funding for a new pool, a new Station Quarter, and a successful university campus, it shows what can be delivered here when everyone pulls in the same direction.”

Councillor Shabina Qayyum, leader of Peterborough City Council, said: “By establishing a Mayoral Development Corporation our city will be able to move forward together, cohesively and at pace to transform the future of our city’s economy.

“This is the right time and we have the right people around the table to make this happen.”

What does letter to Housing Minister say?

The letter to the Housing Minister states: “A new delivery body could help to regenerate our City Centre, build thousands of much needed homes, create well paid jobs, and deliver new facilities and amenities for local people.

Conservative Mr Bristow and Labour’s Mr Pakes and Cllr Shabina Qayyum vow: “We are putting political differences aside and working together on this plan alongside Peterborough City Council and Homes England.

"We share an ambition for Peterborough’s great potential and want to share that with you.

“We are ready to work together with other local partners to deliver on that potential.

They add: "Already, by working collaboratively, the Combined Authority, local MPs and the City Council have delivered a new University for Peterborough, secured funding and a business case for the Peterborough Station Quarter, and most recently secured Growth Mission Funding for our new swimming pool and sports quarter.”

What is the vision?

Peterborough’s political leaders also use the letter to outline their vision for the city.

They state: “There remain several sites across the City Centre that, if considered as an overall master plan, could release 68 hectares of developable land and the potential for over 4,000 homes and 25,000 square metres of commercial space.

"This could open opportunities for a new home for Peterborough United, a concert venue, and new retail and hospitality space.

"The potential of the North Westgate site could finally be realised for homes and retail, the University would continue to grow, the river enhanced as a place for leisure and tourism, and a new market delivered for Peterborough.”

What is a Development Corporation?

Development Corporations are bodies established for the purpose of urban development responsible for regenerating urban areas, often possessing wide-ranging powers, including land acquisition and infrastructure provision.

From 1968 to 1998 a Development Corporation oversaw a considerable expansion of Peterborough.

The next step is likely to be the creation of a Growth Board that brings partners together and prepares for a future Mayoral Development Corporation.