Old Kent Road has been successfully shortlisted to potentially receive a £20m boost from the government's Future High Streets Fund.
Southwark Council bid for a share of £675m from the fund that helps transform high streets into modern community hubs, and has received £150,000 to fully develop its plans after its application progressed to the next stage.
If successful then the council could receive £20m, which can be used to improve properties on the high street, make changes to transport and access into town centres, and convert retail units into new homes.
Southwark has plans to transform Old Kent Road, including building 20,000 new homes and creating 10,000 jobs over the next 20 years.
Councillor Johnson Situ, cabinet member for growth, development and planning, said: “We have an ambitious vision for Old Kent Road, to build on its unique creative character and make it a place where industry can thrive; people can enjoy cleaner, greener open spaces with better air quality and more sustainable transport options (like cycling and public transport); and we can deliver the social rent and genuinely affordable homes that Southwark needs.
“It’s fantastic to have this ambition recognised by our bid for Future High Streets funding reaching this next stage – guaranteeing us up to £150,000 to develop our bid for potentially millions of pounds worth of funding in the future, to put towards our proposals for the Old Kent Road area.
“This will help us support our local businesses and industries through the next few years as we create a thriving new town centre and nurture new businesses and organisations that will continue to provide jobs and opportunities for local people in the future.”
For more news on what is happening on the Old Kent Road head to: https://oldkentroad.org.uk/news-events
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