A REGENERATION scheme that would bring new life to the gateway of Portsmouth has moved a step closer to receiving government funding.
The £30m project – to build a new junction off the M275 motorway – has made the shortlist for government funding.
If granted, it would open up Tipner to redevelopment work, bring in new jobs and homes and could also help new developments at Port Solent and Horsea Island.
In the same announcement from the Department of Transport, proposals for a replacement railway bridge at Northern Road, Cosham, have also made the cut to be considered for government funding.
The present bridge is coming to the end of its working life.
Cllr Mike Hancock, pictured, who’s in charge of planning, regeneration and economic development, said: ‘This commitment from the government is a huge vote of confidence in the Tipner and Northern Road bridge projects, and in Portsmouth.
‘The decision on the M275 scheme is an important milestone on the way to reaching our goal – a comprehensive redevelopment of Tipner. We want the area to be an attractive gateway to the city, with new opportunities for residents.
‘The news on government funding is a positive message to private sector investors involved in delivering this major regeneration scheme.
‘Developers need to know there is a proper road system in place, and people living on residential roads need to know that new developments will not depend on traffic using their streets.’
The Tipner proposal would see northbound and southbound slip roads joining a new roundabout underneath the motorway at Tipner Lane. Also included is a bus and taxi lane alongside the southbound slow lane of the M275, between the new roundabout on Tipner Lane and Rudmore Roundabout.
A comprehensive redevelopment scheme for Tipner could bring up to 1,600 new homes, 1,500 jobs and a park-and-ride site.
Construction could start as early as April 2012 with the new junction ready a year later.