The Department for Transport has agreed to the South West Regional Development Agency providing a £14.14m grant towards Poole Borough Council's Twin Sails bridge which is intended to open up a large area of brownfield land in Poole Harbour for redevelopment.
The money will come from the Agency's Regional Investment Fund which supports provision of infrastructure with money later reclaimed through Section 106 payments.
"This is a transformational project for Poole that will unlock the huge regeneration potential of this site, creating thousands of jobs, and is exactly the sort of project the RDA set up the RIF to deliver," said SWRDA director of development and regeneration Ian Piper.
The bridge will provide a second harbour crossing, opening up 32ha for development and expected to house employment space, hotels, a new quayside and more than 40% of Poole's new homes for the next 20 years.
"This is an historic day for Poole," said Council leader Brian Leverett.
"The Twin Sails Bridge is a world class bridge and is a symbol of our ambition for the town. It opens up the largest regeneration site in the South West and will enable £600m of development that will transform the town. Over the next 10 years, this project will create 2,000 homes, 5,000 jobs and an exciting new waterfront for Poole."
