£42 million boost for Sunderland regeneration scheme

£42 million of investment in Riverside Sunderland has been announced today.

Major works to transform Sunderland’s former industrial hub into a new urban quarter has been strengthened by £29.75 million of additional Brownfield Infrastructure Land funding from Homes England and £8.13 million from the North East Combined Authority’s Brownfield Housing Fund.

The funding will support numerous interventions across the site and create around 1,000 new homes, new community infrastructure and one million square foot of employment space.

This – in addition to previously approved council funding of £49.94 million – takes the total infrastructure investment to almost £80 million.

A further £4.03 million from the Ministry of Housing, Communities and Local Government’s Brownfield Land Release Fund  – which is being administered via the Cabinet Office, LGA and OPE – has also been pledged, which will enable the start of a series of residential developments at Riverside Sunderland and in Sunniside.

Councillor Michael Mordey, leader of Sunderland City Council, said: “Sunderland is growing its reputation as one of the most ambitious and innovative local authorities in the country, leveraging public and private sector investment to deliver a world-class place to live, work and play.

“Securing investment on this scale is only possible because we commit and then deliver – time and time again – and this is a fantastic vote of confidence in our plans for a dynamic, vibrant new urban residential district.  We’re proud to be leading this from the front.”

North East Mayor Kim McGuinness said: “Everyone in our region should have a home to feel proud of, which is why I’ve made housing a central pledge of my term in office.

“Alongside Sunderland City Council, we are investing in Sunderland Riverside because we need more good quality homes in the North East, and particularly more social housing.

“It is fantastic to see Sunderland Riverside taking shape and know that right at the heart of this growing, thriving city we will be building the best quality homes for local people to live in.”

Pictured: Councillor Michael Mordey and North East mayor Kim McGuinness.