Metro Mayor Steve Rotheram to follow in the footsteps of Lord Heseltine and establish a Mayoral Development Corporation to accelerate billions of pounds of projects across Liverpool waterfront. Tony McDonough reports
Metro Mayor Steve Rotheram is to accelerate billions of pounds of new development across 174 hectares of land close to Liverpool waterfront.
Similar to the Merseyside Development Corporation (MDC) established by Tory ‘Minister for Merseyside’ Lord Heseltine in 1981, Mr Rotheram is to establish a Mayoral Development Corporation (MDC).
Following the Toxteth riots the then plain Michael Heseltine persuaded Prime Minister Margaret Thatcher to set up the MDC which ultimately helped deliver the transformation of Royal Albert Dock and the Liverpool International Garden Festival.
Mr Rotheram says his MDC would take 12 months to set up and would use powers granted under the city region’s devolution agreement to fast-track the delivery of thousands of new homes and major commercial developments.
Working in tandem with Liverpool City Council leader Liam Robinson, the corporation would focus on building on the momentum created by Everton Football Club’s new Hill Dickinson Stadium at Liverpool Waters.
It encompasses 174 hectares of mainly brownfield land from the River Mersey to the city’s Pumpfields and commercial business districts. It is initially targeting the fast-track of three already live schemes:
- Central Docks, including a new urban park, backed by a £55m government grant – alongside £26m direct investment from Peel Waters – which is due for completion in 2028.
- A £1bn skyscraper cluster that will include 10 residential towers, a five-star hotel and commercial space at King Edward Triangle.
- Liverpool’s first major grade A office scheme for more than a decade at Pall Mall.
Liverpool City Council has already identified the potential for more than 17,500 new homes and 5m sq ft of new commercial space over the next 15 years within the North Docks area.
This proposal builds on the Liverpool Strategic Futures Panel’s final report, published last March, which recommended steps to establish a regeneration delivery vehicle.
An MDC is a statutory body designed to accelerate regeneration within a defined area, with powers to bring land forward, deliver infrastructure and use flexible financial tools and other powers to get development moving faster.
“Liverpool’s iconic waterfront is one of the greatest assets in the country – but for generations, huge parts of the north docks have stood as a reminder of the jobs and opportunities we lost after decades of post-industrial decline,” said the Mayor.
“We only need to look at the transformation of the Albert Dock to see what can happen when we back a bold, long-term vision… the north docks can follow that same journey.”
This announcement comes as Liverpool hosts the UK Mayoral Council, chaired by Steve Reed MP, Secretary of State for Housing, Communities and Local Government.
It follows last month’s landmark £700m devolved housing settlement for Liverpool city region, giving local leaders more control over building affordable homes.
Cllr Liam Robinson added: “By unlocking this area, we can generate thousands of jobs, support local businesses to grow and strengthen Liverpool’s position as a thriving economic hub.”