The full business case for Calderdale Council’s ambitious scheme to develop homes plus retail and office space at Northgate, Halifax, can progress following an award of £300,000 funding.
West Yorkshire Combined Authority approved the money for the scheme, which was among projects totalling £130 million, at its annual meeting in Leeds on Thursday.
READ MORE: £12m retail and homes plan revealed for second stage of Northgate House scheme
The project, funded through a combination of WYCA Growth Deal and Calderdale Council funds, will cost around £11.9 million, of which the authority will eventually provide around £3 million.
To see the project through to completion, Calderdale Council will secure £8.87 million from prudential borrowing and capital investment.
Calderdale hopes to provide around 40 homes – likely to be 20 one-bed and 20 two-bed homes – through the scheme, as well as office and retail space.
The mixed use proposed for the site, formerly council offices, is described as “a good fit” for the authority’s Strategic Economic Plan.
“The project aims to provide economic growth and employment opportunities for the residents of Calderdale.
“This ‘good growth’ combines innovation and productivity with more and better jobs, improved skills and career progression for all,” said a report compiled for West Yorkshire and York committee members when they considered it at the start of June and recommended to full authority members that it be approved.
Economically it carries some risk but professional independent advice in an appraisal carried out by banking group BNP Paribas supports this mixed use approach for the project which would be managed through Calderdale Council’s major project team.
The council is also working to deliver a new Sixth Form College with enough capacity for more than 600 students on the former library site also at Northgate – but funding for this element will be considered at a later date.
Strategically the time is right to regenerate the site on the back of positivity about Halifax generated by The Piece Hall and Central Library and Archive schemes, said the report.
It is expected the full business case will be ready for presentation by November 2018 with construction starting on site in August 2019.
By March 2020 building work on the retail and office accommodation should be complete and the homes by May 2020.