The joint venture, between Kajima and Genr8 Developments, will partner with Newcastle University to transform the former Newcastle General Hospital site into a centre of research and innovation.
The 29-acre site, owned by Newcastle University will integrate research, living, workspace and health uses to create a world-leading destination, with plans to examine new approaches to our current living standards and how these can be translated to improve health and wellbeing, some of which include specialist housing for those living with dementia and traumatic injuries.
The scheme follows the JV partner's recent success in 2021 after delivering Rochdale Riverside, a new retail and leisure-led, mixed-use destination which transformed the centre of Rochdale by enhancing the environment for residents and generating sustainable employment opportunities. The JV will now commence their second development at the Newcastle University site both reflecting their shared visions to create a platform that positively contributes to the local community. As part of the development partner role, the JV will secure funding for the scheme, which has an estimated gross development value of £500 million.
Kate Pix, Regeneration Director, Kajima, said: “If we are to Level Up the country, we can’t simply build more homes. We also need to rethink how we use existing places, particularly those with in-built community benefits such as health facilities, life sciences and other social infrastructure. Newcastle’s Campus for Ageing and Vitality plans to achieve all of this whilst also becoming an innovative centre for developing homes and services that support the health and wellbeing of the local community and beyond. By placing community, health, sustainability and people at the heart of our work we will deliver both homes and jobs for local people.
We are therefore very excited to be working as development partners with Newcastle University and to continue our ongoing relationship with Genr8 following our successful partnership in transforming Rochdale town centre.”