Funding boost to city's new creative quarter

By Matthew Bates Wednesday 28 November 2012 Updated: 29/11 11:02

A MULTI million pound boost to Far Gosford Street has entered the final phase of development.

The plan to build a 'creative cultural quarter' - branded Fargo - aims to provide office space and improve the image and appeal of the area.

Another £6.1million of funding has been found for the project.

Half of the cash has come from Complex Development Projects, with the European Regional Development Fund matching the figure.

Baroness Hanham CBE, who manages that fund for the Department for Communities, said: "To improve the overall perception and performance of an area you have to get the foundations right.

"Through these latest developments we aim to do just that – restoring this conservation area into an exciting creative village that not only supports the needs of existing and future businesses, but also creates the right conditions for growth which will attract the investment, create job opportunities for local people and help improve the overall economy.

"This is an important investment that compliments other investments made in the city and wider regeneration plans."

Councillor Lynnette Kelly, the council's head of city development, added: "Coventry is a city with a rich history, and Far Gosford Street has always been an area of creation where ribbon weavers and watchmakers thrived.

"We want everyone to be able to enjoy and experience Coventry's rich heritage and, moving forward, we want the street to be home to those creative businesses again."

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