Corby regeneration will go ahead, says chief executive
The chief executive of Corby Borough Council has told Insider that the region will prosper despite the second stage of its £100m regeneration plan being scrapped by developers. Chris Mallender revealed that Corby was currently undergoing several major public sector projects, and said that the authority was “in advanced stages of discussions” with a cinema chain and a multi-storey car park operator to further develop the area.
It was announced last week that the developer of Corby’s regeneration, Land Securities, had pulled out of the project at the second stage.
Mallender said: “We suffered a setback when Land Securities said they could not finance the project any further. But we understand their position - the project wasn’t viable.”
However, he says that the council is pushing forward with regeneration plans despite the setback.
“Corby is undergoing huge redevelopment. There was the opening of [high street fashion retailer] H&M last Thursday and in the autumn, we’ll be launching the town’s new glass framed building which will include an art space, theatre and civic centre," he said.
The new building is approximately 40,000 sq ft and cost £14m to build.
“We have a contract with the county council for the main upgrade and the redevelopment of the town is definitely going forward.”
Mallender said that the city centre project had an initial budget of £35m but the cost after completion will be “slightly over, at around £40m”.
In addition, the council is building a further education college, and a new ground for the Corby Town football team, which will have a seating capacity of 3,500. The football stadium should be completed “by the end of September” said Mallender.
He added once all of the regeneration was complete, the town would be much better placed to compete against the bigger towns and cities dominating the East Midlands.
“Corby has already increased the number of shoppers visiting the town centre," said Mallender. “The town’s market trade has definitely increased. We have people coming from Market Harborough and other nearby areas doing their shopping here regularly. We have the facilities to offer people now, and even more so once the regeneration is finished."
