Muse Developments has signed a development agreement to deliver the £350m Union Square mixed-use scheme in Swindon town centre, Wiltshire.
It includes 1.7m sq ft of new offices and homes, as well as shops, restaurants, cafes and a new hotel. It had already signed up Swindon Primary Care trust as a tenant for the scheme, and also plans to include an improved bus interchange and a multi-storey car park.
Muse, which was chosen as preferred developer in January 2007, was originally scheduled to sign the agreement at a House of Commons reception in September, but missed its deadline due to a need to reduce the number of residential flats from the plans.
Doug Finlay, Muse project director, said: ?This is a very significant development for Swindon and for Muse. Regeneration on the scale of Union Square is an opportunity to bring major improvements to the Town Centre and will help improve the perception of Swindon.
It is an economically important town and as such should have a vibrant legible town centre with walkable streets, providing new opportunities for business and local people.?
Cllr Phil Young, lead member for regeneration and economic development at Swindon Borough Council, said: 'The regeneration of Swindon is truly underway. To deliver such a significant regeneration project while the country as a whole is facing a recession is a major achievement for all involved.'