Funding boosts Lowestoft and Great Yarmouth regeneration

Urban regeneration company (URC) 1st East last week announced funding from English Partnerships to boost regeneration plans for Lowestoft and Great Yarmouth.

The URC, also funded by the East of England Development Agency (EEDA), Norfolk and Suffolk County Councils, Great Yarmouth Borough Council and Waveney District Council, said it will receive £250,000 each year from the agency.

The body previously attracted less investment than all other URCs. Chairman Richard Wright said: "The news is a strong endorsement of the work that we have carried out so far. It brings our funding levels up to national benchmarks and ensures that we have a national voice."

The URC said it aims to attract private investment for its 15-year plan. This includes 3,900 homes, a park that runs on renewable energy and two bridges costing £270 million each.

The plan covers 45ha of land in Lowestoft, an area of 90ha in Great Yarmouth and a combined water frontage of 26km. Planning permission for the Oswald's Boat Yard redevelopment in Lowestoft is expected to be granted early next year.


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