The £200 million Broadway development in Bradford is all set to start as all the funding to build the giant new shopping centre has now been agreed.
The announcement by developers today is a second major boost for the city, coming just two days after it was revealed work is about to start on the renovation of Lister's Mill in Manningham.
The final piece of the jigsaw will be the imminent agreement on a £20 million Connecting The City scheme, which involves the demoliton of the exisitng buildings and rebuilding the surrounding roads.
Developers said today funding was back in place following a blow last year when Yorkshire Forward refused to underwrite a potential £10 million shortfall.
Now the Forster Square Development Partnership is set to steam ahead with the city-centre project which already has planning consent.
But it has submitted amendments which includes cost-cutting measures and the addition of 89 penthouses on the roof and a 900-space car park underneath with a 1,020 space multi-storey at ground level.
The partnership is also understood to be on the verge of announcing a partnership deal with major retail investment company, Stratford-upon-Avon-based Stannifer, after eight months of talks. It has partnered developers in other prestigious schemes including the award-winning Brewery retail and leisure scheme at Romford and the vast Union Square development in Aberdeen city centre.
The news the Broadway scheme is set to go ahead is the second boost in a week for the district and comes amid celebrations of a funding deal which means the £18 million redevelopment of Manningham Mills can go ahead.
Both schemes are key to the regeneration of the district and the construction programmes would bring thousands of jobs for local people.
The financial package for the separate infrastructure programme - called Connecting the City - which would allow the Broadway scheme to go ahead is also being finalised and Maud Marshall, chief executive of Bradford's Urban Regeneration Company said today they were aiming to get it in place for a start date before the end of the year.
The first stage will be the demolition of the existing 1960s buildings and getting services including gas, electricity and water on to the site.
She said the Connecting the City funding was from a number of sources including Europe and Yorkshire Forward. "The URC and public funding agencies are all committed to the scheme and want it to work.
"We are working very hard on a complicated cocktail of funding and it is our aim to get a start before the end of the year," she said.
Director of the Forster Square Development Partnership Richard Weatherhead said: "All our funding is in place. I would hope work could start before the end of the year. We are confident that this scheme will bring fantastic benefits to Bradford and its people."
Executive member for regeneration Councillor Simon Cooke said: "The redevelopment of Broadway offers enormous potential for retailers, investors and local people.
"Given its scale, there are many factors to take into account and changes are sometimes needed. But the Council is working closely with all partners involved to deliver this major regeneration project."
Council leader Councillor Margaret Eaton said: "The development of this prime site would provide a catalyst for the city centre's development , bringing jobs and investment."
The Council's planning manager David Preece said the amendments had not affected the quality of the scheme. "They have made it tighter and improved it. I like it better," he said.
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