A multi-million pound wish list of investments has been laid out by the Isle of Wight Council – including 1,500 homes at Camp Hill and the regeneration of Newport Harbour and East Cowes waterfront.
To regenerate the Island, the council has created its Island Investment Plan (IIP) with projects cashing up to more than £322 million.
The ‘Inspiration Island’ regeneration strategy has been in action since it was approved in 2019 and through it, the Isle of Wight Council has secured opportunities like Venture Quays, Branstone Farm and Nicholson Road to help fulfil its aims.
Now, with the COVID-19 pandemic set to impact the Island’s economy for a while longer, the council is now setting out its case, through the IIP, for funding to move projects along.
The 17 ‘key opportunities’ the council have put forward for investment to help address local challenges and ‘stimulate economic growth’ costs an estimated £322.25million.
What are the schemes?
- Medina Wharf (£9million) — fix urgent repairs at the Island’s only deep-water wharf
- Kingston Marine Park (£10million) — create water access for the site
- Kingston Wharf (£5million) — redevelop the area to include 3,000sqm of workspace
- Medina Yard (£12million) — 14,500sqm of workspace providing up to 460 jobs in the marine sector
- Zero carbon energy infrastructure (cost unknown) — deliver a Smart Grid electricity network
- West Wight cycle route (£1.5million) — create a dedicated route between Yarmouth and Newport
- Camp Hill (£30million) — 1,500 homes
- East Cowes waterfront (£30million) — Also known as Venture Quays, workspace, housing, a hotel and leisure activities
- Newport Harbour (£100million) — 300 homes and up to 500 jobs as well as other public realm upgrades
- Ryde Interchange and Esplanade (£25millin) — improving access to the Island
- High Street regeneration (£2.5million) — improve the quality of town centres and high streets in Ryde, Newport, East Cowes, Shanklin and Sandown
- Small residential sites for housing (£20million) — 200 homes across the sites, potentially including sites in Sandown, Ventnor, Cowes, Newport, Totland and a car park on Shanklin Esplanade, by the Cliff Lift
- Dinosaur Isle (£20million) — expand and develop the tourist attraction
- Centre of Excellence for Digital Skills (£2.75million)
- Nicholson Road (£45million) — extend the business park accommodating 900 new jobs
- Innovation Wight (£5million) — create an innovation hub near the BAE site in Cowes
- Branstone Farm (£4.5million) — rural business park, brewery and homes
So far just over a fifth of that funding (£69.1million plus £500,000 a year for Camp Hill) is in place towards the delivery of the projects but council officers say more is needed for every scheme and that financing regeneration plans in an Island context can be challenging due to the additional costs incurred for being on an island.
To get the cash needed, bids will be made to either government schemes, like the Town’s Fund or Levelling Up Fund, or the Solent Local Enterprise Partnership.
To start and further the projects, the report says the Isle of Wight Council would initially borrow £25million with a further £25million coming from the government while more funding streams can be identified.
The council’s cabinet will decide whether to approve the IIP at tonight’s (Thursday’s) meeting, to be the basis of the funding applications.
Residential housing on Spa car park on Shanklin seafront.
Well, there goes the ONLY car park with coach allocation, and countless other car park spaces.It’s chaotic enough at the height of summer finding a parking space now – heaven forbid!
Camp Hill (£30million) — 1,500 homes
are they insane – how the hell does st marys roundabout, coppins bridge, forest road, cope with another 1,500 cars on it at a minimum per day.
these idiots need removing from the council immediately.
1500 cars would only be 1 per house it could be 2 or 3 per house depending on the size of the houses just what we dont need in newport another 2000 or 3000 extra cars, sometimes you have to wonder what planet the council are on. lets hope we have a change after the elections.
And the hospital not being able to cope
More like 2200 cars.
1,500 homes on the Camphill site wow that’s alot!! Know its a decent size but can’t see that many homes being squeezed in there. I take it they cannot build right up to the forest edge & you have to keep some ‘green belt area’ safe so they can’t build over all the fields that surround Camphill? Does anyone know the plans???
You can get quite a few rabbit hutches on thart site .
Don’t worry about pollution from the extra traffic though our council are investing in a fleet of electric car’s to save us !!!!!!!
No electric cars… you got the cheap option. Electric Scooters!
Lol forgot about the scooters !!!
That’s right, borrow even more money and jack the council tax up even more. Oh yes, there will probably be a bit spare to jack up the councillor wages too. Talk about I’m all right Jack. If I say any more of what I think and feel I will surely get banned
From council still prevaricating over the occasional floating bridge. What could go wrong. Will they guarantee not to increase council tax, if it goes wrong.
Absolutely typical, why increase the population when the facilities can’t cope with the present, where are the new GP Surgeries and the new hospital in these proposals, not to mention the extra 100 miles of roads needed. Idiots.
1.800 jobs, doing what exactly.
There isn’t enough jobs for those that are unemployed at the moment.
So where will all the jobs come from to fill 2.000 new properties?
and to cap it all, borrow 25 million !
Is this all pie in the sky ideas yet again?
they are just trying to gain votes in the local elections with saying more jobs and tree planting. If they get to stay all this what they say will be lost in a forest somewhere.
Pre election posturing, no more. Interesting that the council is virtually bankrupt yet they want so to borrow £50m going forward to fund these projects, some of which are clearly unnecessary. How about spending money on the assets you already have and re-instate the services lost due “lack of funding” ?
Absolute joke…could get a dentist…(pre covid obv)doctors same..1 hospital full too bursting with timewsters in a&e cos cant see a doctor…roads jammed…rip raff summers taking over with there payed for by us offspring…i mean the list us endless do time that all by 10 when greedy councils and developers add more
How many more people can this dying island take?
20 million investment in dinosaur island well that’s a joke…. The one supposedly interested party reportedly dropping the project after the council’s usual mismanagement resulting in the loss of the lease holders for browns…. and no further investment in the neglected bay area, and especially Sandown town…. I have to agree we need a change at the top, but who are the candidate’s let’s have forward thinking yes but develope the natural beauty of the island make it better for the island residents before inviting the world to join us.