What is Section 106 funding?
Section 106 funding is money paid to the council by developers to mitigate the impact of their development. The largest current development in Castle Ward is being carried out by Leicester University. The whole development ‘Masterplan’ for the university which includes Freemen’s Common, Brookfield and Percy Gee, is costed at £500 million. The Freemen’s Common development at the junction of Welford Road and Victoria Park Road is said to cost around £150 million. An impression of the Freemen’s Common development is pictured below
The Freemen’s Common Development
This development, which will house around 1200 students and have a 550 spaces multi-storey car park, will have a major impact on the local area. In consequence the university has contributed around £500,000 in mitigation costs for this part of the development plan. Some of this funding is being used to support three developments on Victoria Park: a bandstand; a new activity centre; and an extension to the existing eco-area.
Locations on the park
The position of the three developments on the park is shown on the map below.
The map shows the lower western part of the park. The Queen’s Road junction can be seen to the right hand side with Victoria Park Road cutting across the bottom right hand corner.
The bandstand is to be located in the community field in the area shown. The new activity area will be just beyond the trees alongside the coach drive close to the boundary of the university. The extension to the eco-area is roughly outlined and will encompass the old lower play area. The play area will be closed and current plans envisage it being removed with the land it occupies becoming part of the eco-area extension. Each of these developments is described more fully on separate pages.