£10m for riverside regeneration

Derby is set for a £10m investment for the Our City, Our River (OCOR) project.

The funding, which will go towards the creation of a new riverside park, will transform the east side of the river around Stuart Street, Phoenix Street, and Exeter Place, creating a new area of the city, Derby Riverside. It comes as part of an ongoing £95m flood risk and regeneration scheme.

The flood scheme will protect over 1,000 businesses and 7,000 jobs, acting as a catalyst for regeneration in the city. The scheme would not only support the ongoing OCOR flood alleviation programme but also support the creation of more homes in the city and commercial space for a further 1,000 jobs.

Cllr Matthew Holmes, Cabinet Member for Regeneration, Planning and Transportation, said: “We’re delighted to receive this substantial investment towards the next phase of our flood alleviation works for Derby. This is brilliant news and will help to achieve the next stage in our Our City, Our River flood alleviation project, focusing on major regeneration of the east side of the River Derwent in the city centre.

“Historically, as a city, we’ve not embraced the River Derwent and have certainly not made the most of it as a natural asset. This proposed regeneration work will help Derby embrace and turn towards the river. I believe the proposals will change our city centre and open up new spaces and opportunities for residents, visitors and businesses.”

The OCOR Masterplan outlines the key aims of the project and provides a framework which Derby City Council will use to create attractive and vibrant areas along the river where people want to live, work and visit.