A long-struggling North East town could be on the brink of a major turnaround as developers push ahead with a landmark regeneration scheme expected to unlock up to 1,500 new homes and support 4,000 jobs.
The £200million Crown Square development in Middlesbrough's Gresham area has been hailed as the town's most significant regeneration project in decades. Backed by developers iMpeC and Buccleuch Property, in partnership with the Middlesbrough Development Corporation (MDC) and Tees Valley Combined Authority (TVCA), the scheme is expected to be supported by around £20million in public sector funding to bridge a critical viability gap.
The ambitious project includes more than 230 build-to-rent homes, student accommodation for more than 400 people and one of the UK's first Fairfield by Marriott hotels.
Developers say Crown Square is designed to act as a catalyst for wider renewal across the town centre, helping Middlesbrough attract graduates, young professionals and long-term investment.
Leigh Cresswell, director at iMpeC, said the scheme was vital for the town's future.
"If ever there's been a project that is needed for the benefit of a town and its people, this is it," he said.
"That's why it's important the public understands the real picture."
Progress on the site paused before Christmas amid what partners described as "national economic headwinds", including rising construction costs and higher interest rates. However, developers insist the project remains viable and ready to proceed.
"We're not unique," said iMpeC director Neil McMillan.
"Projects like this have become harder, but not impossible, to deliver."
He confirmed a contractor is already in place and the site has been fully prepared, with services diverted and hoardings erected.
Mr McMillan likened Crown Square to the early regeneration projects that transformed Manchester's city centre over the past 25 years.
"That transformation didn't happen overnight. It started with catalyst projects like this," he said.
MDC has reaffirmed its commitment to Crown Square and is working with partners, including Homes England, to finalise a funding package. Developers say some design adaptations may be required, but insist quality and ambition will not be compromised.
"This is about delivering something that will genuinely change Middlesbrough's future," Mr McMillan said.
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