UK-based St Modwen has been appointed by Medway's city council as its partner to carry out a £1 bn (EUR 1.5 bn) development to transform Medway in 'a world-class city'. St Modwen, a regeneration specialist, is to embark in a major 15-year programme that will deliver new shops, restaurants, as well as conference and restaurants facilities to the area. Under the 50/50 partnership, St Modwen will provide the developments and infrastructure, and Medway the land, including a 64-hectare site in Chatman, part of the Medway conurbation in the south of England.
UK-based St Modwen has been appointed by Medway's city council as its partner to carry out a £1 bn (EUR 1.5 bn) development to transform Medway in 'a world-class city'. St Modwen, a regeneration specialist, is to embark in a major 15-year programme that will deliver new shops, restaurants, as well as conference and restaurants facilities to the area. Under the 50/50 partnership, St Modwen will provide the developments and infrastructure, and Medway the land, including a 64-hectare site in Chatman, part of the Medway conurbation in the south of England.
Local council leader Rodney Chambers said: 'This is a hugely important moment in Medway's regeneration story. More than £120 mln of public funding has gone into our regeneration programme, with much of it spent of the acquisition and preparation of sites for redevelopment. The project must now be taken forward with private sector money with a programme of investment for the whole community of Medway.'
