Vinci and Ion will work with Derby City Council to create a masterplan for the regeneration of several city centre sites.
Initial plans include a revitalised cultural quarter with a range of leisure, commercial and community facilities, connected to a new business and residential district, incorporating the Bold Lane area and Northern Quarter.
Within the proposed plans is a new cultural, commercial and creative public space to be built on the site of the former Assembly Rooms.
A revamped Market Place will be the focal point for the city, with improved green spaces and ‘pocket parks’.
The scheme also aims to create ‘green and blue corridors’ to improve connectivity between open spaces, such as Cathedral Green and the River Derwent.
Vinci Developments UK and Ion Developments were selected as preferred strategic development partner via the Pagabo developer-led framework.
Graham Lambert, managing director of Vinci UK Developments, said: “Derby as a city has much to offer and potential to be harnessed. We share the ambition of the council, the local community and businesses, in seeking to revitalise the cultural core of the city. The council has laid the foundation for this, and we will create community led assets, flexible and diverse spaces and a quality business district that compliments the inward investment in the city.”
Councillor Nadine Peatfield, deputy council leader and cabinet member for city centre, regeneration, culture and tourism, said: “Derby is a city of growth and economic significance, representing a regional economy of around £15bn, but despite all this our city centre does not reflect our status as an industry leader.
“We’re on a journey to transform Derby into a vibrant city centre with culture at its heart, creating a go-to destination which not only attracts visitors from outside of the city but also offers an affordable place for our citizens to enjoy. Attracting potential strategic development partners such as Vinci and Ion is a huge step forward in bringing this ambitious vision to life.
“Both Vinci and Ion hold a wealth of knowledge and experience and we’re very much looking forward to working with them on plans for our city centre’s exciting future.”
Vinci and Ion will now work with the council and local interested parties over the next six months to develop their plans for the city centre.