Our Enterprise is delighted to announce plans for a £15 million investment in Dundee’s remarkable waterfront regeneration project. The development of Plot 2 of the central waterfront will create a new city square with the Malmaison, and focus on a new ‘Design and Innovation Quarter’ for the city, inspired by the arrival of the V&A museum. This will retain Dundee’s graduate and entrepreneurial talent, attract creative industries and create employment and living opportunities.
We have secured a six-month exclusivity period from the City Council who will share in the benefits of the development through a joint-venture vehicle with Our Enterprise. This innovative new form of joint venture not only enables local authorities to realise both capital receipts and revenue income, but also to secure long-term community benefits and economic outcomes and from the scheme.
Two new city blocks designed by the award winning architects, HTA Design LLP, will include three main elements. Firstly, on the ground floor of both blocks will be ‘Design, Make and Sell’ units, attracting creative businesses to showcase the best of Scottish design. One block will offer small, flexible spaces for creative entrepreneurs who are growing businesses from start-ups. The managed space will bring like-minds together to share the ‘energy’ of this exciting development. The units fronting the new city square will bring cutting-edge companies attracted by the links to the new V&A museum.
Secondly, above the new ‘Hub’ for start-up businesses will be an apartment development geared to providing high-quality, city-centre living. The apartments will create a new urban community, offering light, modern apartments with the bonus of shared facilities, such as larger dining areas for social evenings in larger groups. Bike storage, a cinema room and gym space will add to the attraction of this city-living space, which will enable graduates and budding entrepreneurs to achieve a great lifestyle and live and work among like-minded people.
Finally, to match Dundee’s rise as a location for commercial business, the development will also offer office space to businesses attracted by the exceptional new rail facilities adjacent to the development.
Our Enterprise will be bringing its social legacy company model to Dundee – a Community Interest Company (CIC) will manage the development, ensuring a quality environment now and into the future. This retains the financial benefits locally and enables the new CIC to offer local employment opportunities.
See the Dundee Waterfront masterplan: http://www.dundeewaterfront.com/