Local Enterprise partnership, D2N2 has approved a £3.8m grant towards the construction of the Hollis Lane Link Road in Chesterfield.
The £7.42m project will form a critical part of the Chesterfield Station Masterplan, bringing forward wholescale regeneration and supporting sustainable economic growth in the centre of Chesterfield.
This regeneration will include new commercial development, as well as significantly improved connectivity.
D2N2 will be funding the development through its Local Growth Fund allocation, an investment programme to support projects that benefit the regional economy.
The funding for the Hollis Lane Link Road follows similar awards for infrastructure projects that benefit Chesterfield residents including the A61 Corridor, HS2-related development, and the Chesterfield Higher Level Skills Centre worth a combined £10.57m.
The new Hollis Lane Link Road will extend from the junction of Hollis Lane and Spa Lane and will terminate at the southern extent of the Chesterfield Station car park, providing direct access to the railway station from the south .
Furthermore, the Hollis Lane Link Road will unlock 0.92 hectares of early development plots within the Chesterfield Station Masterplan area which it is hoped will lead to over 500 jobs being created by businesses moving into the new development.
Remedial works are due to begin in September 2020 with work expected to be completed by late 2021.
D2N2 Chair Elizabeth Fagan CBE said: “Our investment into the construction of the Hollis Lane Link Road will be another important milestone for Chesterfield’s regeneration ambitions, bringing significant growth and investment opportunities whilst creating more homes, jobs, and learning places.
“D2N2 is pleased to support investment in our town centres to stimulate economic growth which will be central to supporting the region’s recovery from the impact of Covid-19.”
Derbyshire County Council’s Cabinet Member for Highways, Transport and Infrastructure, Councillor Simon Spencer, said: “The Hollis Lane Link is a great example of the ambitious work now being undertaken by the Joint Growth Board.”
“It is a key part of the Chesterfield Masterplan which will bring a range of economic benefits to the town and surrounding area.”
The Joint Growth Board is body set up between Chesterfield Borough Council and Derbyshire County Council tasked with delivering key regeneration projects which will aid the borough’s growth strategy.
Councillor Tricia Gilby, Leader of Chesterfield Borough Council, said: “The Hollis Lane Link road adds value to the work we are already doing on the emerging station masterplan, which is a significant project for Chesterfield and northern Derbyshire’s economy.”
“We are in the process of finalising the station master plan and will be undertaking public consultation later this year.”
“The station masterplan will define our aspirations for the economic future of the area and we continue to work closely with partner agencies to maximise this huge opportunity for Chesterfield Borough and beyond.”