Regeneration costs for Armada Way reduce

Taxpayer will be paying nearly 40 per cent

Construction costs to regenerate Plymouth’s Armada Way have reduced by around £7 million on the original estimate.

The project will cost £30 million, with taxpayers funding 38 per cent and the rest met by grants and external sources, Plymouth City Council has said.

Earlier this year it was estimated that the scheme, which includes more than 200 trees, would cost around £37 million.

Sixty-two per cent of the cost will be funded from the government’s Transforming Cities Fund and the Future High Streets Fund, with contributions from developers, funding from the Climate Emergency Investment Fund, council borrowing and cash from the sale of surplus property.

The cost taxpayers will be £11 million.

The plans includes a play village, seating for 500 people, new lighting and CCTV, spaces for events and performances, cycle paths, green spaces and water features, plus a sustainable drainage system.

Cllr Tudor Evans, Labout lleader of the city council, said: “We always said that the overall costs published earlier in the year were a ballpark estimate and included the enabling works. We had to plan for worst case scenario.

“Now that we have completed our exploratory trial pits, we have clarity on the scope of the works needed, enabling us to have detailed conversations with the contractor.

“Let’s be clear. Creating a city centre that we all can be proud of cannot be done on the cheap. Construction costs have gone up exponentially in recent years – the cost of materials alone has more than doubled.

“We are trying to create something really special that will be a real focal point for our city. Plymouth deserves the best as we embark on a new chapter for our unique city centre.”

Slight alterations have been made to the design, including delaying redevelopment of the piazza as other improvement works are planned in the area, such as in Royal Parade. And some paving work will be put on hold to coordinate with other redevelopment in the city centre.

The council’s cabinet will consider the costs of the scheme at its meeting on Monday 9 September and, if agreed, contracts will be signed with the contractor and work will start in October.