In September 2019, the government announced a new multi-million pound Towns Fund.
Torquay is one of 101 towns invited to develop regeneration plans that will help to build a prosperous future for the town. We found out in October 2020 that Torquay will get an investment of £21.9 million from the Towns Fund.
Aims of the Towns Fund
The aim of the Fund is to drive the economic regeneration of towns to deliver long term economic and productivity growth through:
Urban regeneration, planning and land use
Ensuring towns are thriving places for people to live and work, including by:
- increasing density in town centres
- strengthening local economic assets including local cultural assets
- site acquisition, remediation, preparation, regeneration
- and making full use of planning tools to bring strategic direction and change.
Skills and enterprise infrastructure
Driving private sector investment and ensuring towns have the space to support skills and small business development.
Connectivity
Developing local transport schemes that complement regional and national networks, as well as supporting the delivery of improved digital connectivity.
Preparing for a Town Deal
We created a Town Board to oversee the writing of a Town Investment Plan. We submitted the Investment Plan in July. It is the basis for a Town Deal and helps us develop detailed business cases for the projects. They will bring transformational investment into Torquay.
Torquay’s ambitions
The Town Deal Board and partners see this a great opportunity to bring transformational investment into Torquay. The Board hopes to revitalise and regenerate the town centre and surrounding areas.
One of the many projects that would benefit from investment through the deal is the Torquay Strand public realm. Each project within the investment plan would:
- drive forward a better experience in the town centre
- provide a better mix of uses
- create a place where people enjoy spending their time
Preparing for a Town Deal
A Town Deal Board was created to oversee the production of a Town Investment Plan. The Investment Plan was submitted to Government in July and is the basis for a Town Deal which allows development of the detailed business cases for the projects to bring transformational investment into Torquay.
Torquay’s ambitions
The Town Deal Board and partners see this a great opportunity to bring transformational investment into Torquay. The aspirations of the Board is to revitalise and regenerate the town centre and surrounding areas.
One of the many projects that would benefit from investment through the deal is the Torquay Strand public realm. Each project within the investment plan would drive forward a better experience in the town centre, provide a better mix of uses, and create a place where people enjoy spending their time.
Vision
Our vision for 2030
Torquay is the heart of the English Riviera. A grand, elegant town with a rich history linked to its naturally inspiring coastal, maritime and landscape setting, with a vibrant town centre. This unique setting provides one of the best places to live, work and play in the South West. Connections to London have improved and further enhancements, particularly rail, allow Torquay to be more accessible to investors and visitors from within and outside the town. High quality tourism is one of the leading sectors with an international reputation, and the town is thriving after the Coronavirus crisis. Torquay has a high value health and social care economy linked to the Torbay Hospital improvement programme, and the wider offer of Torbay’s advanced electronics and photonics sector is enhanced by the skills and space on offer in Torquay. Torquay has a thriving business community providing well-paid, high quality employment in a broad range of sectors.
Objectives
Through the Town Deal and Town Investment Plan, Torquay will deliver outcomes which include:
- More private and other public sector investment
- More business start-ups, business success and young entrepreneurs
- New jobs
- Increasing the number of people living in the town centre
- An improved cultural and tourism offer
- Improved health outcomes
- Reduced town centre antisocial behaviour
- Less benefit dependency, inequality and disadvantage
In July the Town Deal Board delivered a presentation to Torbay’s community including:
- Neighbourhood Plan Forum
- the Community Development Trust
- Torbay Town Partnership
The presentation delivered to representatives across Torbay’s community.