Waterloo Development Framework programme
Decision Maker: Strategic Director: Neighbourhoods and Growth
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
The Council recognises that continued investment in critical physical infrastructure within Waterloo – to support economic growth and inward investment, is required to support a thriving and global business district. It is pivotal to deliver the Future Lambeth Borough Plan (2016-21) by ensuring the core objectives of Creating Inclusive Growth, Reducing Inequality and Building Strong and Sustainable communities are achieved.
This report confirms that the Waterloo Development Framework (WDF) programme is now underway and will shortly be commissioning two regeneration and place making studies with the aim to enable on-the-ground delivery to support social and economic growth within a rapidly changing built environment concentrated around the geographical area of Waterloo, in the northern part of the borough.
The key objectives of the WDF include:
· Deliver high quality place making plans that will upgrade existing public realm and create new spaces across Waterloo and South Bank; whilst also attracting public and private investment in response to the increasing visitor economy and rising employment densities.
· Provide a strategic economic vision with a focus on culture that stimulates, coordinates and manages inward investment opportunities within the boundary area and across Bishop’s Ward to 2025.
· Coordinate and enhance sector focused regeneration opportunities with a focus on creative enterprise & digital hubs, culture, retail and health to boost borough employment and skills.
· Plan for smart social and physical infrastructure to support development growth and provide an evidence base for the spatial delivery of the Waterloo Community Local Investment Plan (CLIP) and Lambeth’s Local Plan Review.
This report will help initiate the draw-down of existing Section 106 funds and Community Infrastructure Levy together with potential match funding to support the delivery of the Waterloo programme and act as a catalyst to attract match funding from partnering organisations.
(1) To endorse the Waterloo Development Framework programme;
(2) To agree the use and draw-down of the allocated £100,000 fund to begin the WDF programme.
Publication date: 22/09/2017
Date of decision: 02/10/2017