"Funding gap" - frustration as doubts cast over Waterlooville town centre regeneration due to rising costs
Havant Borough Council have revealed there is a ”funding gap” which is delaying the transformation of Waterlooville town centre..
The public were consulted last year and given a number of layout options of how they would like the town centre’s public realm to look and function. The improvements included new seating, greenery, and better accessibility to create a “safer, more attractive and welcoming space for residents, visitors, and businesses”.
However, following detailed design work the overall projected cost of the work has increased leading to a “funding gap” the council has confirmed. It is now looking at options to address the situation including a cabinet recommendation to Full Council to approve a Community Infrastructure Levy (CIL) bid for £1,000,000 additional funding which will be considered on February 26.
It is also considering undertaking surveys and other on-site tests to achieve best value for money for the project.
Councillor Antonia Harrison, Cabinet Lead for Community Assets & Waterlooville Town Centre Regeneration, said: "We understand that some residents and businesses may be frustrated with the pace of progress, and we thank everyone for their patience. We remain committed to delivering the improvements to Waterlooville town centre that residents helped to shape last year. This project is an important investment in our town, supporting economic vitality and enhancing the experience for all who live, work, and visit here.
“While costs have increased due to factors beyond our control, we are taking every step to ensure the scheme can go ahead in a financially responsible way, and we will continue to explore all options to address the funding gap and deliver these improvements, creating a safer, more attractive, and welcoming space for everyone.
“No final decisions have been made yet, and we will provide updates once we have reviewed all the options and agreed on the best way forward. Residents and businesses will be kept informed as the project progresses.”
The MP for Fareham and Waterlooville, Suella Braverman, who today defected to Reform, said she was “frustrated” by the delays with Havant Borough Council “letting down” residents.
She posted on social media: “We were promised quick wins, street furniture and a community garden but where are they? We are being told that work wont start until 2027, that is not good enough.
“I am urging Havant Borough Council to start putting Waterlooville regeneration first and start investing in the shopping centre and delivering on their promises.”