Major council investment unlocked for Weyside Urban Village infrastructure
Significant funding to unlock the infrastructure phase of the Weyside Urban Village project in Guildford was approved by the Council's Executive last night (7 January).
Weyside Urban Village (formerly Slyfield Area Regeneration Project) is a major 41-hectare brownfield regeneration scheme that will deliver 1,500 homes, as well as 2,000 square metres of community space and 6,500 square metres of employment space. The development will help meet the essential need for more housing in the borough, with 40% affordable housing available as part of the new community.
The Weyside Urban Village will help regenerate this area of Guildford, creating a vibrant new community with a mix of affordable housing with easy access into the town centre along the riverbank. Community space where local residents can come together is a key part of the development and we will be consulting local residents for their views about how we can best provide areas that everyone can enjoy.
The Weyside Urban Village project is a key strategic site in the Guildford Borough Local Plan and will be connected to the town centre and station through the Sustainable Movement Corridor's planned cycle routes and footpaths.
Last night the Executive agreed to approve a capital budget of £359.504 million to enable the infrastructure phase of Weyside Urban Village Project to begin.
Cllr Caroline Reeves, Leader of the Council says: "Weyside Urban Village is the most exciting and important infrastructure project in our borough and we are delighted to see it move forward with the approval of this significant council investment. The Weyside Urban Village project will help deliver much-needed housing, community space and employment opportunities for our borough and we look forward to seeing work begin on site in the next year."
Additional funding for the project includes an EM3 Local Enterprise Partnership (LEP) grant of £7.5 million and a £52.3 million grant from the Housing Infrastructure Fund.
Cllr Reeves adds: "As with all such significant investments, we will have a rigorous system of financial checks and balances in place to ensure the council taxpayer receives best value for money throughout this complex and important project."
As part of the Weyside Urban Village project, residents will also benefit from a newly-relocated state-of-the-art sewage treatment works provided by key partner Thames Water.
This decision is subject to approval by full Council at the meeting on Thursday 16 January.
Published on Wednesday 8 January.