Sunderland city council is on the hunt for a private sector partner to undertake what it says will be the city’s largest redevelopment project.
It wants to create a public-private initiative to bring forward a 20-year development plan.
The delivery vehicle would transform a number of development sites across the city to support its housing delivery and employment targets.
Some 400 council-owned property assets will also be injected into the vehicle.
Council leader Paul Watson said: “This initiative will spark a new chapter of citywide regeneration, creating important new places to live and work, and generating excellent value for residents and taxpayers. The Sunderland delivery vehicle will invigorate key areas of the city and offer new opportunities for employment, housing, shopping and culture.”
The establishment of the delivery vehicle is being led by Jones Lang LaSalle.
An official tender for the scheme will be published this week with the aim of securing a partner by mid 2013.
samantha.mcclary@estatesgazette.com
