Worthing Borough Council are to propose an exciting new deal to the owner and developers of Union Place, following enthusiastic endorsement of plans at last night’s Joint Strategic Committee meeting.
In a report presented to the Council’s Executive Members, the regeneration plans for Union Place, in Worthing Town Centre, include a multiplex cinema, residential apartments and restaurants.
As well as providing new homes and jobs, the mixed use scheme would secure significant investment into Worthing’s daytime and night-time economies.
The proposals of entering a development agreement could see Worthing Borough Council fund up to £3m into the development, in return retaining freehold possession of the former Police Station site upon completion.
In parallel with the negotiations, the Council is also pursuing scope to attract Local Growth Funding (LGF) from the Government. Initial bids have received positive responses and if successful, would significantly reduce the Council’s borrowing costs.
Leader of Worthing Borough Council, Cllr Daniel Humphreys, commented:
“This is a fantastic opportunity to get development moving on one of our town centre’s key regeneration sites. The proposed scheme would offer new jobs and new homes, plus a new retail offer for the people of Worthing. Even more crucially I’m convinced it will be a catalyst for other developments in Worthing Town Centre.”
“Our desire to support this scheme shows that Worthing Borough Council is absolutely committed to driving forward regeneration in our town centre. Our ability to do this at a time when most other Councils are cutting back on their services is further proof that our long-term strategy is the best one for Worthing and the people and businesses who live and work here.”
“Worthing is on the up and there is huge amounts of confidence, from businesses and the Council that this is a great place to invest.”
Cllr Bryan Turner, Executive Member for Regeneration, added:
“This proposed scheme offers excellent benefits to Worthing’s economy, which justifies our strong and proactive stance to help bring forward development on this vacant site. The scheme also presents the chance to build up to 90 new dwellings, which is vitally important in helping meet the town’s housing needs, plus the opportunity to create 100 new jobs.”