Regeneration

Also known as: Asset Management, Development, Economic Development, Site Development

Service Description: The regeneration directorate covers both physical regeneration of sites across the island, asset management, economic development and supporting business growth. The service will be working to improve the Island’s economic prosperity and enabling growth across all sectors. Working in partnership with the private sector or delivering sites ourselves, the regeneration team is using a portfolio management approach to taking forward development. This is a long-term programme that has the following principles:

• Taking a partnership approach to programme delivery and stakeholder management.
• Develop a vision and 20 year growth plan for the Isle of Wight in partnership with all stakeholders.
• Adopt a strategy of retaining assets and investing to create the most value and maximise long term returns on investment.
• Ensure each priority project has a clear value and that it is making a measurable contribution to the vision.
• Commit to an evidenced based approach to decision making.

Regeneration on the Island will adopt a more holistic approach which seeks to harness all that is best about the Isle of Wight and use all available resources to deliver the best possible place to live, work and visit. The programme has seven distinct tranches of work:

- physical regeneration
- housing (including extra care models of housing)
- asset management
- area-based regeneration (community-led master planning, local regeneration initiatives, culture and heritage)
- skills and business development
- infrastructure
- stakeholder engagement and communications

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