A LONG neglected part of Liverpool city centre is set to become a vibrant new residential district and home to thousands of key workers and students.
Islington, one of the main gateways into the city, is being comprehensively redeveloped to provide accommodation for people working and studying in the city’s booming knowledge sector.
Planning consent for the latest development, a high quality 10-storey residential scheme which would create student and key worker apartments for more than 200 people, has just been granted.
YPG, the developer behind the scheme, on Devon Street, believes the area, which also sits immediately next door to the emerging Fabric District, is set to become a thriving new neighbourhood and a home for young skilled workers and students attracted by the city’s world class higher education, research and health institutions.
Ming Yeung, Managing Director of Liverpool-based YPG, said: “Islington has been an unremarkable part of the city for decades now but, as part of the expanded Knowledge Quarter (KQ Liverpool), is undergoing a fabulous renaissance.
“We estimate that more than 2,000 new apartments have either been built in the area in the last year, are under construction or in the pipeline.
“Its proximity to the new Royal Liverpool Hospital and the universities, as well as assets such as new Sensor City development and the new £1bn Paddington Village scheme, make it an attractive opportunity for developers and, more importantly, an attractive destination for young, usually highly skilled, people either working or studying in the city’s knowledge economy.”
YPG is a specialist mixed use regeneration and property company that currently has some £180m of developments in its pipeline. Its Devon Street scheme will also include ground floor retail and leisure space.
Mr Yeung added: “Our development is one of a number which will see existing poor quality industrial and storage buildings being replaced by high quality residential, leisure and retail space. It’s great to see an entirely new city district emerging and meeting the needs of our new economy.”
Work on the Devon Street scheme is due to start in November this year, with the first residents moving in in March 2019.
Professor Janet Beer, University of Liverpool Vice-Chancellor and Chair of KQ Liverpool’s Board, said: “Our aim is to establish it as one of the UK’s most successful locations for knowledge creation and innovation, as well as a strong economic area that is more than the sum of the parts.”
KQ Liverpool helps generate £1 billion in income per year, supporting more than 14,000 jobs and contributing to the expansion of the city region, including major redevelopment projects such as the £335 million new Royal Liverpool University Hospital.
Mayor of Liverpool Joe Anderson said: “KQ Liverpool is hugely important, not just for the future economic success of Liverpool but also the wider City Region.
“This is a hugely exciting time as we see a number of major developments being delivered and it’s imperative that we create the right kind of residential, leisure and retail assets to support these developments and the highly skilled workforce they’ll create.”