Regeneration firm Langtree and the Northwest Regional Development Agency (NWDA) have come to agreement on a £2.1m grant which will see the formal gardens at the former International Garden Festival site in Liverpool restored to their former glory.
The project is the culmination of many years work by bodies including the NWDA, Langtree, Liverpool City Council, the Land Restoration Trust and Mersey Waterfront.
A separate contribution of £1.6m from the Northwest European Regional Development Fund (ERDF) is also being considered for the scheme, bringing the total package of investment being sought to £3.7m.
According to landscape and urban design firm Planit-ie managing director Peter Swift, the new waterfront park at Otterspool will celebrate the relationship between the River Mersey and the city.
Langtree managing director John Downes said: "The grant we are finalising with the NWDA will allow us to not only bring forward the timescale for the restoration of the formal gardens but also accelerate delivery of the residential development. The agency's investment will also cover the management and maintenance of the park for 5 years, within which time it is anticipated that we will be able to commence development on the balance of the site and secure its long-term future."
Land Restoration Trust chief executive Euan Hall added: "The former Garden Festival site has been a blot on Liverpool's landscape for 25 years -- finally a solution is in sight that will help make this the community asset it always should have been."
Subscribe to Horticulture Week for more news, more in-depth features and more technical and market info.