It should be easier for mayors to create mayoral development corporations (MCDs) to boost housebuilding, according to a report from IfG.
MDCs include the London Legacy Development Corporation that has been used to regenerate East London after the Olympic games, and the South Tees Development Corporation that is reindustrialising the former Redcar steelworks.
The IfG report said the government should also review legislation to clarify that England’s mayors can establish mayoral development corporations (MDCs) on greenfield as well as brownfield land.
It should also empower all mayors to create regional spatial plans, provide greater funding certainty and capacity support for combined authorities, so that mayors can develop and deliver a long-term strategy for regeneration.
Millie Mitchell, report author, said: “Urban regeneration will be pivotal to delivering economic growth and metro mayors should lead the way.
“Our new report reveals the wide array of powers that mayors have to do this, demonstrating the importance of picking the right tool for the job, depending on the needs of a local area.
“With more support from government, mayors will be able to lead the way for transformative change.”
The IfG report sets out six key lessons for how mayors can successfully lead the regeneration of urban areas:
- Design interventions that make best use of the full mayoral toolkit, including investment funds, joint ventures, development corporations and development zones.
- Set a clear long-term regeneration vision and convene a coalition of support for this among local stakeholders and investors.
- Use their mayoral mandate to promote key regeneration schemes to government and the private sector.
- Engage businesses and contractors early on both to identify risks and to secure wider opportunities of regeneration, such as high-skilled job creation.
- Align devolved powers over transport, skills, housing and the environment to secure the full benefits of regeneration efforts.
- Use mayoral development corporations to regenerate areas with complex land ownership patterns and those that need up front public investment to ‘crowd in’ the private sector.
Nick Crossfield, chief executive of Balfour Beatty’s UK constructionservices business, said: “We are delighted to have participated in this important research project, as Metro Mayors and Combined Authorities become increasingly pivotal in driving growth and regeneration across the UK.
“The construction and infrastructure industry will play a leading role in this, delivering the schemes and providing the expertise needed to transform regions into places where people want to live, work, and invest.
“In our experience, one of the best ways Metro Mayors can maximise the benefits of their investment in infrastructure is by involving contractors early in the process.
“This involvement allows us to provide vital input on buildability, deliverability, and efficiency. Taking a programmatic approach, by grouping together related schemes, can unlock further efficiencies and drive social value, ensuring that the full potential of these transformative projects is realised.”
