MegaProject 1211: Mace wins US$500 million contract to regenerate UK town centre
- Mace Group Ltd
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The Borough Council of Stevenage, a town and borough in Hertfordshire, England, roughly 50km north of central London, has appointed the developer Mace to undertake the first phase of its town centre regeneration project, with construction expected to start next year.
Mace was selected as the successful partner from three other national developers that competed to win the project. The planned development is for the western side of the town centre, where the council offices, the Plaza, bus station and several surface car parks are currently located. The Plaza is a Town Centre leisure and licensed premises development which houses food outlets and a health club.
The site to be developed is comprised of a number of plots, extending to 14.2 acres (5.75 hectares) overall. The Council owns the freehold of a significant proportion of the site with the balance owned by other public sector bodies and third party landholders.
Mace’s plan for the site includes new shops, homes, and a bespoke central venue for a library, exhibition space, health services and council offices. It will also create a new linear park, and food and drink space with bars and restaurants in the heart of the town for people to enjoy. The company has stated that it will submit proposals for public consultation later this year.
The scheme brings around GBP350 million (US$487.2 million) of private investment to the town.
This award is the result of more than two years of work by the Stevenage First partnership, a consortium of economic and political influencers in the region, which oversaw the development of Stevenage Central Framework, the 20-year programme to regenerate the town centre. Since its launch in 2015, the consortium has commissioned and financed studies on transport and infrastructure among other areas that have informed this project.