The redevelopment of the riverside area, based around Dumballs Road, will see 2,150 houses built, alongside restaurants, shops and a school.
Phil Bale, who is the leader of Cardiff Council, has stated that he welcomes the plans and confirmed that public funding would not be required to realise them, following the rejection of an earlier suggestion to partially finance the work.
Property development firm Bellerophon will be carrying out the work, and Richard Daley, its chief executive, commented:
“The £500 million Cardiff Embankment regeneration programme, which is in the heart of the city’s enterprise zone, will deliver major economic stimulus and create thousands of jobs, both in the construction phase and [long term].”
There are certainly businesses in the city with services that could well be needed once the work is completed, including printing companies in Cardiff that will be asked to supply everything from Posters for the shops to Menus for the restaurants.
The housing will comprise a blend of affordable properties rented in partnership with the Linc-Cymru Housing Association and homes that are made available to buy at the current market value.
Work is due to start next spring.
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