The Silver Hill development in Winchester has been subject to multiple iterations and “false starts” over more than a decade.
City council cabinet members are set to approve the first milestone of the current project since the signing of a development agreement last April with partner Jigsaw Consortium.
Jigsaw has produced a development delivery plan setting out the “what, when, who and how” for the Central Winchester Regeneration scheme, which includes the bus station, Kings Walk block and Friarsgate car park.
READ MORE: Council leader defends Silver Hill project as pressure mounts to follow through
Speaking before the scrutiny committee on Wednesday, March 5, council leader Cllr Martin Tod said it was an “absolutely vital opportunity to bring new life to the heart” of the city.
He said the development will deliver new homes, jobs and businesses, bringing millions of pounds of investment into Winchester.
“This is not going to be a false start,” Cllr Tod said.
“At the moment the difficult financial situation nationally means that many regeneration schemes are falling by the wayside but we are not going to fall by the wayside.
“That’s the decision we are taking today.
“While we can all get frustrated about how long it takes to make this kind of project happen, we’ve had way too many false starts in the past and there’s no prize for going faster if the price is failure.”
Two previous schemes for Silver Hill hit the buffers due to economic factors and legal action, respectively.
Jigsaw’s 194-page development delivery plan sets out that a master plan could be completed before the end of the year ahead of a planning application submission in late 2026 or early 2027.
The indicative programme timeline suggests, subject to planning approval, a phased construction process will be completed by 2034.
Jigsaw said the project was a “once in a lifetime opportunity to create a magical new place that unlocks this part of Winchester and brings new life to this timeless city”.
The council’s vision is for “a mixed-use, pedestrian-friendly quarter that is distinctly Winchester and supports a vibrant retail and cultural/heritage offer which is set within an exceptional public realm and incorporates the imaginative re-use of existing buildings”.
When cabinet meets on Thursday, March 13, councillors will also be asked to approve infrastructure, public realm and phased delivery plans, the initial financial model and ring-fencing £4.5million of community infrastructure levy receipts for infrastructure work.
The council leader said the financial model was not based on detailed costings as these would come forward when details of the actual buildings in the development are known.
An officer report said the model currently indicated the scheme would have a negative land value.
Director of regeneration Ken Baikie said it was only one or two per cent from being positive, which was “not very significant” at the current stage of the project.
Mr Baikie said the local authority was exploring whether it would be possible to include council homes in the development.
A public forum on the progress with the Central Winchester Regeneration scheme is set to take place on April 2.
