£65 million Station Quarter regeneration to start late autumn after Government go ahead
City Link pedestrian route will be first phase
The construction of Peterborough’s Station Quarter regeneration will get underway this autumn after the £65 million project secured the go ahead from the Government.
Officials have just approved the Full Business Case for the development that will start with the City Link phase creating a new access from the train station to Cowgate.
The go ahead unlocks £47.8 million of Government funds that have been earmarked for the development.
The City Link will deliver a clearer, safer and more welcoming pedestrian and cyclist route between the station and the city centre, replacing the current underpass at Cowgate with a direct link.
Work on this first phase will begin late autumn.
Further phases will see creation of the wider Peterborough Station Quarter project that includes a new western entrance to the station, a multi-storey car park on station’s west side, and refurbished station buildings on the eastern side.
There will be new public spaces to meet and spend time, improved street design and planting, and measures to reduce flood risks.
Future phases are planned to unlock land for new homes, jobs, and commercial development, replacing some existing surface-level car parking with high-quality, mixed-use regeneration.
Paul Bristow, Mayor of the Cambridgeshire and Peterborough Combined Authority, said: “We’ve got the green light and we now want to get building.
"Government approval of the business case is fantastic news for Peterborough, offering a generational opportunity to revitalise a part of the city which has so much potential.
He added: "For me this is personal. I played a big part in securing this funding when I was the local MP.
"A key reason I stood to be Mayor was to see through major projects like this, and subject to the Comprehensive Spending Review, we can get spades in the ground later this autumn.”
Councillor Nick Thulbourn, Cabinet Member for Growth and Regeneration at Peterborough City Council: "The approval of the Station Quarter project is a monumental achievement for Peterborough and I'd like to thank all those involved for their hard work to get to this point.
"This project will transform the station area into a vibrant gateway, enhancing connectivity and accessibility for residents, business and visitors. I'm looking forward to seeing the positive impact this development will have on our city."
The project is backed by the Combined Authority, the council, LLNER, and Network Rail. The remainder of the funding is expected to come from private investors.