The Local Investment Plan identifies a “golden thread” that links housing investment to economic success.

The plan, drawn up by Bradford Council in the face of a challenging economic climate, aims to establish priority investments across the district.

The plan outlines the need to focus on the city centre, supporting it as the “engine” for the wider district’s growth.

It points to the continuing need for a city centre mixed tenure housing programme integrating town housing, family homes and larger apartments.

In the short term, as revealed in the Telegraph & Argus last week, the redevelopment of the Goitside section of the city centre, notably around Chain Street, will be a “key housing priority.”

In the short-to-medium term, the Cathedral Quarter will be an area for intervention, with a number of cleared sites adjacent to the Cathedral identified as having the potential for a high-quality mixed development of flats and houses.

In the long-term, the Channel Urban Village, in the Forster Square area of the city, remains within the Council’s planning.

The project sits at the start of the Canal Road Corridor and has the potential for a significant number of new units of accommodation, created through conversion of existing industrial premises and through new-build.

Val Summerscales, of Bradford Chamber of Trade, said: “Anything that improves the vitality and vibrancy of the city centre should have a positive knock-on effect for the business community adjacent to it.”

She said the increase in city living over the last decade had been significant in supporting businesses in the area.

Mrs Summerscales said: “Improvements in city living bring customers to the city centre, but improvements to the business community need to be in place in parallel. It’s a chicken-and-egg situation. The solution needs to be twofold.”

Mrs Summerscales said the campaign to get more people living above shops in the city centre, utilising vacant second and third-floor space in some of Bradford’s imposing buildings, had been successful in recent years.

She said she would like to see a continuation of that trend, but added that improvements in the city centre’s housing provision needed to go hand in hand with enhancements to the evening economy and business offer.

The investment plan said: “Our city centre needs revitalising: Bradford city centre accounts for 20 per cent of all jobs in Bradford district.

“However, the decline in Bradford’s economy during the 20th century has resulted in a weak retail, commercial and leisure offer. Some businesses have taken strategic decisions to locate in edge and out-of-centre locations or relocate to other city centres.

“Making Bradford city centre a competitive and attractive location is vital to the economy of the whole district.

“A quality housing offer has to be a part of this and Bradford’s city centre potential is unique. There are numerous Victorian buildings and an abundance of underused space above retail premises together with vacant land and older, edge-of-city, residences which are ripe for investment which can add to city centre vibrancy and provide a healthy financial return.”

The report acknowledged that the city centre had been suffering from “market failure” with a need for its central business district to be recreated to appeal to 21st century businesses and attract new investment.

And it said recent action and investment on the ground had been focused on improving the quality of the public realm, including the City Park that is designed to act as a catalyst for a new central business district by raising land values and encouraging investment.

The document said: “Creation of a new central business district will bring transformational change for businesses, investors and Bradford citizens.

“Fostering a positive image based on demonstrable improvements is vital to promoting economic development.”

The investment plan said there was still an urgent need for the delivery of the Broadway shopping centre. The document said: “In the face of a changing retail environment and global recession, Westfield remain committed to pursuing the scheme, building on their existing investment.

The document said: “Work is currently under way to ensure the scheme remains appropriate for the district in terms of quality and scale. This approach is essential to the short-term goal of delivering the development and the longer-term economic success of the city.”

But the plan said the value of Bradford’s existing retail offer must not be overlooked. Despite current economic difficulties, some positive signs in city centre activity have been seen.

The Kirkgate shopping centre is fully let and experienced a significant rise in footfall in the pre-Christmas period. Meanwhile, the latest phase of the Heritage Streets refurbishment was completed and has been shortlisted for a national award.

The plan also identifies priorities to improve other parts of the district, with plans to revitalise Manningham while further enhancing Airedale’s growing reputation as a creative and lifestyle corridor.

The Leeds Bradford Corridor is also identified in the plan as a key area for investment.

This could include private sector renewal of terraced housing in Laisterdyke, strengthening of the housing provision in Ravenscliffe and a proposed “urban expansion” in Holme Wood.