Coalition Government helps kick-start the delayed Waterside project

The Coalition Government has stepped in to help kick-start the massive £300 million plus Waterside project along the A61 corridor in Chesterfield. The project, which will reclaim the long-derelict land running from the old Trebor site almost up to the new Tesco, has been stalled for the past eighteen months or so since the new canal basin was built. A £2.4 million grant for public realm work has been obtained from the government's "Growing Places" fund, via Sheffield City Region, and is to deliver all canal related infrastructure which forms the necessary structure of the Waterside site including provision for flood mitigation. This will include the construction of the new canal arm, locks, weir and road bridge access. Together with some "Get Britain Building" funding, these works will also enable the first phase of residential development, 45 homes, to take place on site which is expected to get the commercial development going around the canal basin..

The government funding, a loan rather than a grant, (Waterside repaying the money back over a 2-5 year period), is linked to the future sale of housing on the site. This funding will then be ploughed back to support other infrastructure projects in the area. Whilst the initial approval of funding has been made, the bid still has to undergo further administrative checks before work can start, which is likely to be this autumn.

Cllr Ray Russell, Chesterfield Liberal Democrat Group Leader, said this is very good news for Chesterfield and great support from the Coalition Government. It should play a big part in getting this ambitious scheme well underway - and bringing further jobs. Everyone is aware that money is very tight due to the general economic problems that the Coalition inherited, but despite this, it is good to see that the Coalition has paved the way to help the Chesterfield economy via this valuable loan. The government has already helped to fund the Markham Vale site this should help give our area a real boost at a difficult time.