Torbay's MP Kevin Foster has welcomed today’s (Monday 26th August 2019) news of a multi-million-pound funding boost for Paignton Town Centre from the Government.
Paignton is one of 50 communities which will be benefitting from the latest round of Future High Streets Funding announced today by the Prime Minister Boris Johnson and Robert Jenrick, the Secretary of State for Housing, Communities & Local Government.
In March Torbay Council submitted a bid for more than £15 million to the Future High Streets Fund to support the regeneration of Paignton Town Centre. It is estimated this funding could attract a further £24.5 million of investment from other investors into the town.
The bid focussed on two areas where investment is most needed. The first is in the core area of Victoria Street, Torbay Road and Paignton Station Square, the town’s focal point. The second is looking at key opportunities, such as Victoria Centre and Crossways, where regeneration is desperately needed.
Commenting Kevin said: “This is fantastic news for Paignton and will help create a Town Centre we can all be proud of. Changes in shopping habits and the growth of online retail have hit Paignton hard, yet this Bank Holiday boost will not just deliver physical changes but inspire confidence and create real momentum for the future.”
“When we missed out on the first round, I promised to keep up the pressure for this project to happen and am delighted we have now secured a once in a generation level of investment which will make Paignton proud.”