A masterplan to create a vibrant new district in the centre of Cardiff, with a reopened historic canal at its heart alongside new hotels, apartments and offices, has been revealed.
The Canal Quarter scheme, which is being driven by Cardiff Council, would see the reopening of the concreted over old dock feeder canal underneath Churchill Way.
The new district, bordered by Queen Street and running from Station Terrace to encircle the Motorpoint Arena and reaching west as far as Barrack Lane, would also provide new retail, leisure and public spaces.
The scale of the quarter would be enhanced if the current Motorpoint Arena site is demolished and becomes part of the regeneration project.
Operator of the arena, Live Nation, has been chosen by Cardiff Council to run its planned new £150m indoor arena in Cardiff Bay working its development partner OVG (Oak View Group).
If it decides to focus solely on the 15,000 seat new arena, which could open in 2024 subject to planning consent, this will allow for the demolition of the Motorpoint Arena, for which the freehold of the site is owned by the council.
The council is progressing the first phase of investment along Churchill Way, developing a green public realm with rain gardens, outdoor seating with canal views, and an amphitheatre-style outdoor performance area.
However, the the vision is to continue to re-open up the canal right along Churchill Way and to connect through to the dock feeder south of Tyndall Street.
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Cabinet member for investment and development Russell Goodway, said: “We can’t get away from the fact that the pandemic has hit our city centres hard. Many jobs have been lost across the retail and hospitality sector already. This is why we have to seize every opportunity we have to safeguard people’s livelihoods.
"We have an opportunity to work with private-sector partners to create a new district, which will not only improve this part of the city, but also deliver vital jobs for people who live here. The Canal Quarter could become a successful, high-density, mixed use development, attracting homes, hotels, hospitality, high-quality offices, leisure and retail units.”
“This will require significant investment and will need to be funded in part through private sector contributions and investment.
"We can’t do it alone. We will need to work with private-sector partners to realise the plan. Just as we did when we brought forward the St David’s Centre on the Hayes, enabled the Millennium Stadium to stay in the city centre and made Central Square a reality.
"We are confident the opening up of the canals and the proper use and integrations of the many tight knit streets and lanes in the area will see the Canal Quarter develop a really distinct personality in the city centre, somewhere people will want to visit and spend time in.”
The council said that initial conversations have already taken place with landowners and stakeholders in the area, including Live Nation the current leaseholders of the Motorpoint Arena.
The site of office buildings and adjoining surface car park at the bottom of Churchill Way, owned by property development firm Rapport, could also feature in a wider scheme.
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Council’s cabinet is being asked to approve the masterplan at a meeting next Thursday. If agreed this would allow detailed work on specific development projects with stakeholders to begin and engagement with the public on the masterplan to take place.
Mr Goodway: “The Canal Quarter area is made up of numerous landowners and interests and therefore the council will necessarily have a significant leadership role in bringing together a co-ordinated development strategy for the benefit of the city as a whole.
"We want to hear the publics’ opinion on the masterplan. The public’s view will help shape our conversations with landowners and stakeholders. Initial talks have already taken place, but it’s important now that we look to firm up interest in the masterplan.”