11/09/20 

The redevelopment of a large strategic brownfield city centre site, which would see more than 2,000 new homes built in the heart of Cardiff, is set to take a major step forward this month.

The Dumballs Road regeneration scheme aims to deliver over 2,000 residential properties alongside commercial and retail space on a 40-acre site in Butetown which strengthens connections between the city centre and the bay along the banks of the river Taff.

Cardiff Council's Cabinet will decide whether to sell 8.5 acres of land off Dumballs Road to the developer - Vastint - in a land deal which would enable the full vision for the development to be delivered.

Cllr Russell Goodway, Cabinet Member for Investment and Development said: "This scheme is a significant investment in the city which will not only provide affordable housing, but a long-awaited connection between the city centre and Cardiff Bay.

"Given its industrial past, the land has proven difficult and expensive to develop. This, along with complex land-ownership issues, has led to a number of failed attempts at redevelopment. The land has remained undeveloped and partially derelict for the last 30 years. The Council decided to get involved, and working alongside the private sector has been able to deliver much needed investment that will deliver homes, jobs and a new vibrant community in an area that's been run down for far too long.This is a real breakthrough and will deliver a quality scheme in the heart of the city. "

As the Council has agreed to sell the land in advance of planning, a contract has been agreed with the developer to guarantee a minimum level of affordable housing contribution. The Council has also secured the option to acquire up to an additional 100 Council homes in a package deal.

Vastint has a track record of delivering high quality developments on difficult urban sites across Europe, including current large-scale mixed use schemes at Aire Park in Leeds and Sugar House Island in London. The company is an investor and developer that retains most of the buildings they build as long-term investments. This means they also stay involved in the schemes long after completion to manage the properties they build and take care to retain their tenants and occupiers.

Cllr Lynda Thorne, Cabinet Member for Housing and Communities, said: "The Council remains committed to delivering1,000 council homes by 2022 with an additional 1,000 programmed to be built in the following years, with a clear delivery schedule. The redevelopment of Dumballs Road will make a significant contribution towards this goal. The deal with Vastint will guarantee we take a major step forward in delivering more Council houses as part of atenancy neutral developmentsite in an area of high demand."

Andrew Cobden, Managing Director of Vastint UK, added "Since acquiring the first land parcels in late 2016 we have been working well with the Council to assemble the 40-acre site and bring forward a vision for its development. We are close to being ready to openly share the vision when we will welcome feedback to ensure we meet the needs of the local community and the city of Cardiff. The Cabinet decision anticipated next Thursday, including the sale of the land to Vastint, will bring us considerably closer to completing the land assembly and is another major step towards changing this derelict corner of Cardiff into a new riverside location for living and working".