New Â£250m vision to transform Lancashire canalside
Lancaster City Council chief executive Susan Parsonage confirmed that options for the Canal Corridor North site bounded by Moor Lane, St Leonards Gate and Edward Street will go before councillors next week.
The plans are set to include an arts centre, food and drink establishments and student accommodation incorporating old and new buildings.
The controversial development has taken a number of forms since it was first revealed more than 10 years ago.
And there has been strong opposition to certain elements of the original plans from councillors and members of the public.
Mrs Parsonage said developer British Land is set to invest £100m into the project, with a further £80m for arts and £70m for student accommodation.
Discussions as to the operation of the arts venue are under way.
A spokeswoman for Arts Council England said: “The Arts Council has awarded £300,000 to Lancaster City Council towards the development of the cultural aspects of the Canal Corridor
North project. We look forward to discussing future opportunities with the council in due course.”
Mrs Parsonage said the Canal Corridor development is a regeneration priority for the council and remains a key project in the Local Development Framework.
She said the development agreement with British Land has been in place since 2012, and it is important that it is now reviewed and decisions made on the most appropriate way forward, to secure the viable regeneration of the site.She added: “A range of options and the implications for each one will be reported to full council on Tuesday October 31. Councillors will be
asked to authorise further negotiation with British Land, Lancaster University, and other relevant key partners, to inform detailed development of the scheme’s concepts, layout and design.
“Subject to this being agreed, the aim is to finalise heads of terms early in 2018, with submission of a planning application by the end of that year.”
Subject to planning permission, work could get under way in 2021.