Homes England and Network Rail Property have signed a development agreement with McLaren Property and Arlington Real Estate for York Central.
York Central is said to be one of UK’s largest city centre regeneration schemes.
Alongside partners including the City of York Council and the National Railway Museum, the development will transform what is said to be one of England’s largest brownfield sites.
The mixed-use development covers 45 hectares and will see 2,500 new homes built on brownfield land, with 20% earmarked as affordable housing.
Up to 1 millionft² of commercial space encompassing offices, retail, and hospitality will be added alongside enhancements to York Railway Station and National Railway Museum.
The development’s office space is anticipated to establish a new employment hub in northern England.
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By GlobalDataIn addition, York Central will feature a 17-acre urban park and 50% of the site dedicated to green spaces.
Public squares will integrate the new development with the surrounding communities and York City Centre.
Arlington Real Estate founder Allan Cook said: “Creating a brand new city quarter right in the heart of York, with its own entrance to one of the UK’s best connected railway stations, is an amazing opportunity. We look forward delivering a great place worthy of its unique location and heritage.”
Infrastructure works valued at £135m ($170m) are already in progress, including the construction of 2km of new roads, bus lanes, segregated paths for pedestrians and cyclists, and two new bridges.
Strategic development partners McLaren Property and Arlington Real Estate have initiated community and stakeholder engagement.
The companies plan to continue this dialogue before submitting formal plans later in the year.
McLaren Property regional managing director Tom Gilman said: “This is a fantastic opportunity for the city and a milestone moment in the delivery of York Central.
“We are committed and passionate about providing much needed new homes, best in class commercial space, along with substantial green space, enhanced public realm and amenities, all of which will bring significant economic benefits and local jobs.”
The scheme is expected to create approximately 6,500 jobs.
It is anticipated to increase York’s economy by 20% in future, contributing an additional £1.1bn ($1.35bn) in gross value added to the city.
