Business leaders have praised the final designs for Everton FC's new stadium at Bramley-Moore Dock, calling the 拢500m project the city's "most significant development since Liverpool ONE".

The Premier League club has submitted a detailed application to Liverpool Council for its proposed 52,000-seater home overlooking the River Mersey, featuring refreshed designs to those revealed during the summer.

Reacting to the plans, a city business leader described the plans as a "jewel in the crown" for Liverpool, with another adding that the project will "transform" the North Docks area - which has been "abandoned" since the Second World War.

Refreshed designs show the inclusion of wind baffles around the 拢500m stadium with the plans now in the hands of council planning officials, while the club has also moved the multi-storey car park from the edge of the site to now being part of the stadium.听

Frank McKenna, chief executive of Downtown Liverpool in Business, said the project was the most important for the city since the development of shopping complex Liverpool ONE.

Frank McKenna

He said: 鈥淭his project is a jewel in the crown for Liverpool and enables us to look forward with some confidence.

鈥淚t鈥檚 easy to see why people like me in the business community and other business leaders are saying that this is the most significant development in Liverpool since Liverpool ONE, undoubtedly.

鈥淭he big miss for our city over the last decade has been a lack of Grade-A commercial space.

"Whoever you speak to, whether it鈥檚 property developers or people looking to invest they will say there is a lack of quality commercial space.

"If you look at what Liverpool Waters will be able to do on the back of the stadium, it will allow development of that space which is much needed and long overdue.鈥

Everton said on Monday that it would reveal how it plans to fund the construction of the 拢500m stadium after planning permission has been approved.

It's understood that the council could take around 16 weeks to publish a decision on the plans.

These are the final designs for a stadium at Bramley-Moore Dock that Everton have submitted as part of a planning application on December 23 2019

The construction of a new stadium is projected to cost half a billion pounds and though the club has been in talks with a number of potential lenders 鈥 including the council 鈥 for some time, chief executive Denise Barrett-Baxendale said it will not detail the decision until planning permission has been secured.

At last year's General Meeting, majority shareholder Farhad Moshiri said he expected the club to loan 拢350m from the private sector and that a naming rights partner, plus 拢100m in the form of equity capital, could all be part of the funding model.

These are the final designs for a stadium at Bramley-Moore Dock that Everton have submitted as part of a planning application on December 23 2019

Steven Connolly, estate director at Liverpool ONE, said: 鈥淚t is great news that the planning application has now been submitted. This is a very exciting time for the city.

鈥淔urther regeneration such as this project helps to maintain the positive momentum that has been created around the city, attracting sports fans, tourists, residents and students.

"As a key stakeholder in the city we are obviously in support of anything which builds and adds to the success of not only Liverpool but the wider region too.鈥

Bill Addy, CEO of Liverpool BID Company said the project would bring "transformative change" for the city.

He explained: 鈥淭his is about transforming the banks of the Mersey and North Liverpool, which has been abandoned since the Second World War, when the docks receded from that area and moved north.

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鈥淚t represents a 拢1bn boost to the economy 鈥 that鈥檚 people being employed, that鈥檚 suppliers, that鈥檚 all of the surrounding support for the construction over the short to medium term. And once the stadium is operational, it will bring the knock-on value of more people coming into the area on matchdays and non-matchdays.

鈥淭his is going to bring such a transformative change to Liverpool 4 but also across Liverpool. For us in the Liverpool Business Improvement District it鈥檚 about real benefits for our businesses 鈥 our hotels, our restaurants and our retailers.

Bill Addy, who runs Liverpool's business improvement district. Photo by James Maloney

鈥淭his stadium is very much anticipated; this stadium is very much welcomed and the consultation has clearly shown that we want this to happen, we need this to happen.鈥

Paul Cherpeau, chief executive of Liverpool and Sefton Chamber of Commerce, added: 鈥淭he new stadium has the potential to catalyse our economy, attract new businesses into the area, harness the talent that exists within the population of North Liverpool and also to get more talent travelling to the north.

鈥淭he opportunity for local business to get on the supply chain of the football club during the construction phase will be astronomical in terms of creating job opportunities, creating social value and strengthening community cohesion all of which can only benefit the north of the city.

Paul Cherpeau of the Liverpool Chamber of Commerce.

鈥淥nce the stadium is actually built, it has a great opportunity to act as an epicentre for economic activity and we could see a whole community of businesses operating within its vicinity.

"The fact that Everton will be committing to staying at Goodison through a fantastic new legacy project, also gives an opportunity for businesses in that particular area to survive, prosper and grow.

鈥淭here鈥檚 also the psychological impact around having two football clubs in fantastic stadia with an amazing offer for tourists, visitors and our local population 鈥 that鈥檚 an incredibly important part of our city鈥檚 narrative and it鈥檚 something we can harness and develop. Businesses will thrive on the confidence that such a big investment is taking place in our city.鈥