A £180m regeneration scheme on the edge of Stirling may result in the formation of Scotland's first urban regeneration company.
Last week, 160 developers attended a packed meeting in the city, where Stirling council unveiled proposals for the private sector to take a 50% stake in the Raploch development.

John Hendry, chair of Stirling's community and economic development committee, said he hoped the partnership could lead to Scotland's first urban regeneration company.

A spokesman for the council added: "A URC seems to be the best vehicle for Raploch because the public sector is already heavily involved, but to develop the land we need to access private sector investment." He added that the Raploch Board, which includes public sector and community representatives, had lobbied the Scottish Executive for seedcorn funding to get the URC up and running. The approach has been positively received.

The project will yield 750 homes, 250 of which will be provided by Forth Housing Association for low-cost rent. Communities Scotland has promised the association £7.5m to build the homes over five to seven years.

Construction is expected to start in the 2004/5 financial year.

Source

Housing Today