Investment News | 19 August 2020
Urban Village investment
D2N2 Local Enterprise Partnership has approved an investment of £1.5m from its Local Growth Fund allocation into Derby’s Castleward Urban Village.
The Castleward Urban Village is a 12-hectare brownfield urban regeneration scheme designed to create a new sustainable community of homes and businesses close to Derby Railway Station.
The funding will go towards the construction of a primary and nursery school for families moving into the new development, as well as those in the neighbouring Nightingale Quarter development being built upon the former Derby Royal Infirmary site by Wavensmere Homes.
To help cover the funding gap, the school also received a further £4.5m of external funding from Homes England’s Housing Infrastructure Fund.
The facility will have a capacity for over 300 primary school children, aged between five and 11 and with an onsite nursery with 39 places for pre-school children.
The school will serve the new homes being built as part of the urban village and the local community. Subject to the successful appointment of an Academy Trust provider, the school aims to be welcoming its first pupils in September 2021.
Work on the wider Castleward Urban Village has been underway since 2013. Compendium Living, which is delivering the Castleward project in partnership with Derby City Council and Homes England, has successfully completed the delivery of 164 new homes and 12 commercial units – with the overall development delivering 672 more city-centre homes, upon its completion.
Councillor Evonne Williams, Derby City Council Cabinet Member for Children and Young People, said: “We’re delighted that work is commencing to create a new inner-city school within the Castleward Urban Village development. The new school will not only provide brand new facilities for the children living in the new Urban Village but also support the surrounding developments around it, whilst creating a new community in the heart of the city.
“The regeneration at Castleward showcases our ongoing transformation and commitment to our City Centre Masterplan to build 1,900 new housing units by 2030. We’d like to thank the D2N2 for their support and investment throughout the Castleward development and the creation of this new school.”
