An additional £12.98m has been secured for transport projects as part of the Humber LEP’s Growth Deal negotiations on top of the £15.9m already allocated.
£10m has been allocated to continuing housing market regeneration in both east and west Hull which will see a further 1,500 homes built and a further 4,500 homes refurbished, while over £13m will support flood defences to enable the building of 6,000 new homes as part of the Lincolnshire Lakes development. A loan of £8.5m will also be made available for a housing development in Brough.
The transport money will bring the electrification of the Hull to Grimsby line a step closer with £7.5m being awarded – conditional on the outcome of the DfT funded feasibility study as well as an agreed business case.
If successful in these the LEP and Hull City Council will also have the facility to access a discounted loan of circa £20m, which would help to reduce the cost of the project.
A further £4m will go towards an enhanced footbridge over the A63 Castle Street in Hull to connect the city centre with Hull Marina, which will help unlock the Fruit Market development area as well as provide a safe route for events in the area.
£1.48m will go towards junction improvements, public realm works and improved sustainable transport in Grimsby to help open up key gateway development site Cartergate – a high quality £12m mixed use development that will include 11,700sqm of commercial floorspace and create 275 jobs.
Three schemes had already been allocated LGF funding to start from 2015/16: a rail gauge enhancement scheme for freight from the South Humber Ports to Doncaster to enable larger loads to be carried; access improvements to Humberside Airport; and a transport scheme in Bridlington to enable development.
Lord Haskins, Chair of the Humber LEP said:
“This major package of investment will help to bring forward developments in the centres of Hull, Bridlington and Grimsby and major housing schemes in Hull and North Lincolnshire.
“It will also improve access to the South Humber Ports and improve our connectivity with London and northern cities. These are major construction projects which will create jobs and have a long term effect on our cities.”