English Cities Fund (ECF) is doubling its investment in cities and towns in England to £200m (€224m).

Development company ECF, set up in 2001 by Homes England, Legal & General and Muse Developments, said it will now double in size to target complex, large-scale and long-term regeneration projects.

It said it is on track to deliver five schemes in England with a total value of £1.6bn.

The fund will seek new partnerships with councils, regional authorities and other public-sector organisations to transform major sites, deliver mixed-use, residential-led schemes, and create inspiring new places, it said.

Since 2001, the fund has delivered 850,000sqft of office, retail and leisure space.

It has built 1,300 homes in new neighbourhoods, with a further 2,210 homes still in the pipeline, alongside 820,000sqft of new commercial development.

Michael Lyons, the chair of ECF, said: “In bringing together Homes England, Legal & General and Muse, we are demonstrating the combined potential of public and private-sector regeneration expertise. We’ve shown over 17 years that it’s possible to commit for the long-term while still delivering at pace.

“As we double the fund, we’re enthusiastic about the opportunities to deliver urban developments which show real imagination and unlock value for our partners and their communities.”