Temple Island project set to provide 550 new homes
Legal & General has agreed a deal with Bristol city council to invest 拢350m in a major regeneration project designed by Zaha Hadid Architects.
The institutional investor will develop the Temple Island scheme, which includes 550 new homes, of which 220 are affordable, a conference and exhibition centre, a 345-room hotel and two major office buildings.
L&G will take on the development risk and lease out the buildings to generate a return. The precise tenure of the homes has yet to be determined.
L&G says the regeneration of the disused site, near Bristol Temple Meads railway station, will 鈥渇ocus on social inclusion through affordable housing, training and employment opportunities鈥�.
It is designed to complement the wider Temple Quarter partnership, which includes Bristol City Council, Bristol university and Network Rail.
The ZHA-designed Temple Island will be heated by a District Heating Scheme provided by the council and the buildings will target a minimum of BREEAM Excellent status.
Legal & General added that it has invested more than 拢30bn into major urban regeneration schemes to date, including Oxford, Manchester, Cardiff and Newcastle.
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