Derby is set to receive a £10m investment for the Our City, Our River (OCOR) project, as part of the Government’s initiative to protect homes and businesses from flooding
The funding, which will go towards the creation of a new riverside park will transform the east side of the river around Stuart Street, Phoenix Street, and Exeter Place, creating a new area of the city, Derby Riverside.
The scheme would not only support the ongoing OCOR flood alleviation programme but also the creation of more homes in the city and commercial space for 1,000 jobs.
Further design work and a refresh of the planning consent will continue over the next two years and land will be acquired, through a Compulsory Purchase Order (CPO) if required, in order to progress with the redevelopment and to help to mitigate flooding.
Councillor Matthew Holmes, cabinet member for regeneration, planning and transportation, said: “We’re delighted to receive this substantial investment towards the next phase of our flood alleviation works for Derby. This is brilliant news and will help to achieve the next stage in our Our City, Our River flood alleviation project, focusing on major regeneration of the east side of the River Derwent in the city centre.
“The events last November highlighted the importance of the work that has already been achieved and also what needs to be as part of our Our City Our River project. Over 1,200 properties were protected from the flood water and protecting homes and businesses is extremely important.
“To do this, major changes will need to be made to the east of the river, opposite the Silk Mill creating regeneration opportunities in the city centre. Major regeneration of this part of the city will also support Derby’s Economic Recovery Plan and promote reinvestment into the heart of the city.”
Work to regenerate the area is already underway with the installation of four new flood gates to Exeter Bridge and Derwent Street as well the repaving and realigning the road of the bridge.
The wider Government scheme will mean that 336,000 properties in England will be better protected from flooding by 2027 with a record £5.2bn investment alongside an immediate £170million cash injection to accelerate flood scheme construction.
Emma Howard Boyd, chair of the Environment Agency, said: “For every £1 spent improving protection from flooding and coastal erosion, we avoid around £5 of property damages. The long-term commitments announced today will make homes, businesses and infrastructure more resilient to the accelerating impacts of the climate crisis. Many communities are all too familiar with flooding, and now the risk is increasing for others too. The Environment Agency is champing at the bit to deliver on the Government’s investment with better, and greener, flood schemes. Detail about how we will do this is set out in our strategy.”