'Building a stronger city': Major new homes and jobs boost to Leeds city centre with new investment
Leeds is set to receive a major multi-million investment to build thousands of new homes in the city centre 📣
The Chancellor and Leeds West and Pudsey MP has confirmed Leeds will receive new investment through the government’s City Investment Funds (CIFs) to unlock new home and job opportunities in key city-centre neighbourhoods.
Speaking at the UK Real Estate Investment and Infrastructure Forum (UKREiiF) at Leeds Dock, Rachel Reeves confirmed funding for a series of major projects in the city centre, including Temple Works and the wider Temple District, West End Riverside and Meadow Lane.
The investment will support the delivery of 3,500 homes and at least 150,000 sq ft of commercial and leisure space within Temple Works and the wider Temple District.
As well as this, up to £12 million from CIFs will support the delivery of 570 homes within West End Riverside, while up to £7 million will unlock further delivery at Meadow Lane, bringing forward 246 new homes and more than 200,000 sq ft of new Grade A space within the Northern Square Mile.
Together, these schemes will accelerate housing delivery, and bring forward major new commercial space.
Chancellor of the Exchequer Rachel Reeves said: “These investments will be felt by everyone.
“From new jobs and homes to new leisure space and offices, this is economic growth that the people of Leeds will be able to see and feel.”
Today’s news follows Rachel Reeves’ previous announcement that an additional £2.3 billion for major city regions which will go directly into the hands of mayors. The money is made up of new grant, loan and long-term investment and will be used to grow city economies under the leadership of mayors who know their communities best.
Mayors will be able to utilise the flexibility afforded to them through their Integrated Settlements when deploying elements of the CIFs.
Tracy Brabin, Mayor of West Yorkshire, said: "This backing for our ambitious, ongoing delivery is a major vote of confidence in West Yorkshire's ability to grow the UK economy and raise local living standards.
"From Temple Works to the Royal Armouries, we're transforming Leeds city centre with tens of thousands of good homes and jobs, and this cash injection from the Chancellor will enable us to go even further, faster.
"Together, we're building a stronger, better-connected city with the transport, amenities and business that communities need to thrive, and sending a clear message to investors that West Yorkshire is where opportunity lives."