00:00A flagship regeneration project on the banks of the Tyne has taken a major step forward with more than £120 million in government funding now confirmed.
00:10The Quayside West development in Newcastle on derelict land next to the utilitar arena has been promised a £121.8 million boost to kickstart the long-awaited transformation.
00:21The money will go towards clearing and preparing the former Calder's Leadwork site and putting in essential infrastructure.
00:28Part of a plan to attract private developers and get construction underway.
00:33The site, described as the last major undeveloped brownfield plot in the city, could eventually see 1,100 new homes built as part of a wider £250 million vision for the Forth Yards area.
00:45That vision was approved back in 2020 but never materialised.
00:49Homes England later stepped in to acquire the land aiming to get the project back on track.
00:53Now with the new funding in place, a procurement process to find a development partner is expected to begin in the coming months.
01:01North East Mayor Kim McGuinness said the site has sat unused for 20 years and called it a huge waste of potential.
01:08She said the plan is not just about building houses but creating a thriving community with access to green spaces, transport links and local services.
01:16Housing Minister Matthew Pennycook said the government is focused on unlocking brownfield sites like this to meet housing targets and regenerate urban areas.
01:27Newcastle City Council leader Karen Kilgower echoed that.
01:31Up to 2,500 homes could be built across the wider 50 acre Forth Yards area, which includes nearby railway land recently earmarked for development by a new government housing company.
01:42Newcastle City Council leader Karen Kilgower
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