Work has started on the first phase of £1bn worth of planned developments that will transform the centre of Swansea.
The £135m phase one of the Swansea Central project, will deliver a cultural district, encompassing a 3,500-capacity arena and conference centre, a 150-bed hotel, new homes, food and beverage space, a park and a new footbridge over Oystermouth Road, linking the arena to new shops, flats and a multi-storey car park.
Phase one is being delivered by Swansea City Council and developed by RivingtonHark, the leading city and town centre real estate transformation specialist.
It is being funded to the tune of £110m from Swansea City Council. However, it is expected to also receive around £23m from the City Deal for the Swansea Bay City Region.
The council has agreed to finance the project with long-term borrowing from the Treasury's Public Works Loans Board. It said the funding was agreed before the PWLB's recent 1% in interest rates.
The first phase is due to complete in mid 2021 and will be anchored by the arena and conference centre, which will be operated by the Ambassador Theatre Group (ATG). The company operates nearly 50 venues across the 海角视频, Germany and the US.
The venue aims to stage 160 performances a year across comedy, theatre, live music and gaming — attracting over 230,000 visitors per year to the city
Phase one also includes a green wall, which is a vertical garden, and a 1.1-acre park, facilities for outdoor events, as well as a hotel and 960 new parking spaces across the development.
Most Read
The main contractor is Buckingham Group, which built the roof at Tottenham Hotspur's new stadium and is redeveloping a stand at Fulham FC's Craven Cottage.
Leader of Swansea City Counci. Rob Stewart, said: “The start on site of Swansea Central marks a huge step in the major evolution of Swansea. From our spectacular beach and historical landmarks, to our world-leading universities and institutions, Swansea provides a wealth of opportunity that has been undervalued for too long.
"Alongside the other transformative projects taking place across the city, ‘Swansea Central’ is a missing piece of the jigsaw that will attract more people to the city centre, and greatly strengthen our economic buoyancy."
The Swansea Central phase one scheme alone is forecast to create over 2,500 new jobs throughout and beyond construction, of which 75% are expected to be filled by local residents.
Mr Stewart added: "This is just the beginning. Phase two will also see the creation of a large public sector hub, with the potential to create thousands more jobs in the city centre.”
The wider Swansea city centre regeneration programme will bring further new housing into the city, as well as facilities for learning and business.
The Swansea Bay City Deal will also part-fund a new 100,000 sq ft innovation hub on Kingsway with incubation and co-working spaces for small businesses in the tech and creative industries, and a new innovation precinct due to be constructed at the University of Wales Trinity Saint David a the waterfront SA1 site
Don’t miss
Mark Williams, executive director of RivingtonHark, said: “More than ever, city centres need local authority intervention in order to thrive, and Swansea is a positive example of what can be achieved with a forward-thinking local council at the helm. ‘Swansea Central’ will not only be a destination for world-class entertainment, but also a new urban neighbourhood for people.
"It marries uncompromising architecture and design with facilities that will draw people and business into the city, supporting the city’s ambitions to be a leading business and leisure destination.”
RivingtonHark was created earlier this year through the merger of Rivington Land and Hark Group.
Planning permission for Swansea Central phase one was granted in October 2018 with a planned completion in mid 2021.