The development of a hotel, housing and student accommodation in Gresham is being led by the Middlesbrough Development Corporation (MDC) with property developers iMpeC and Buccleuch Property.
The project is part of the wider Middlesbrough masterplan, with the first phase including more than 230 build-to-rent properties and residential accommodation for more than 450 students.
Hotel brand Fairfield by Marriott is also in discussions to open a 200-bedroom hotel as part of the regeneration project.
A planning application for the first phase of the project is set to be submitted in the coming weeks.
Subject to planning permission and MDC board approval, building work on the project could start by early summer 2025.
David Wingfield, managing director for 91黑料网 East at Wates, said: 鈥淲e鈥檝e been working in the centre of Middlesbrough for nearly a decade, helping cement the town as a key growth region in the North East through our builds. The Gresham regeneration will help accelerate this potential even further, bringing a disused area back to life through the creation of community, and we鈥檙e incredibly proud to be appointed to deliver it.鈥�
iMpeC director Leigh Cresswell said: 鈥淭his development can be the catalyst to wide-scale public and private investment that will transform the centre of Middlesbrough. It will help the town鈥檚 digital community 鈥� the UK鈥檚 fastest-growing tech hub 鈥� as well as the thriving advanced manufacturing and professional services sectors to attract and retain talent.
鈥淔ollowing a formal tender process that attracted most of the UK鈥檚 major contractors, we are delighted to welcome Wates as a key part of the established project team. While their appointment brings the vast experience and knowledge of a national business, Wates has a proven commitment to keeping its supply chain local wherever possible as well as working with the local community. The appointment of the construction contractor is a key milestone in the development as we move towards the submission of planning approval.鈥�
Tees Valley mayor Ben Houchen said: "We all know decades of failure have blighted Gresham but we're now putting that right. Having a renowned contractor in Wates leading our push in the heart of Middlesbrough is a big boost.鈥�
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