The existing 19th-century building will be refurbished and redeveloped as a managed workspace for up to 100 cultural business, creating and sustaining 400 jobs over ten years.
The council will also contribute £650,000 from its own resources to the project.
A report being considered by Northampton Borough Council’s Cabinet on Wednesday next week (March 4), also updates on the wider Cultural Quarter area, which is undergoing a number of other improvements as part of the Northampton Alive programme of regeneration that is currently transforming the town.
It is hoped that the town’s Museum of Leathercraft will also be found a suitable space within the Cultural Quarter.
Council debates plans for Greyfriars bus station site
A CONCEPT plan is to be put together to guide the development of the Greyfriars site after the demolition of the old bus station on March 15.
The four-acre site is a key location in the town centre and represents a significant regeneration opportunity that will complement the other developments taking place under the Northampton Alive banner.
The relocation of the University of Northampton and new public sector office space at Project Angel will also bring around 19,000 more people into the town centre. A concept plan for the site will take into consideration the results of a public consultation carried out last year, which offered more than 300 ideas for cultural, retail, transport, residential, commercial and community uses.
Some work on the site has already begun and a feasibility study is already looking at the creation of a new, improved facility for coaches on the western island section. Northampton Borough Council is working with National Express to relocate evening coach services to the North Gate Bus Station later this year.
“We have already had interest in the site from a number of developers and it is important that we have expert advice on the options for the site so that we make the best possible decisions for the future.”
The commissioning of a concept plan will be discussed at Northampton Borough Council Cabinet’s meeting on March 4.