The future of Watford has received “a big vote of confidence” after £16 million in government funding for the redevelopment of the Town Hall and Colosseum was secured.
The big boost comes following a review of UK Levelling Up Fund projects chosen by the previous government after the money was originally approved in November 2023.
The vital funding will drive forward the plans to breathe new life into the heart of the town centre, attract increased footfall and strengthen the town’s position as a place of enterprise and innovation. It also supports the Government’s commitment to driving economic growth and revitalising town centres.
“I’m delighted that the Government has recognised the outstanding potential of our plans for Watford," said Watford mayor Peter Taylor.
“This funding will help us unlock economic growth, create new jobs, and deliver exciting new spaces for our community. It is a big vote of confidence in Watford’s future.”
MP for Watford Matt Turmaine said: “I’m proud to champion Watford and despite challenging economic circumstances, confirmation of this funding demonstrates the new government’s commitment to our town.
“The investment will help deliver a vibrant community and business hub that will support both existing and new enterprises. It’s a real and significant step forward in strengthening Watford’s economic future.”
The council's bid was championed by the mayor and former MP Dean Russell, with the funding initially secured and signed off before the General Election.
Watford Young Conservatives chairman Danny Mosley said: "I am very happy that Watford is getting the funding it truly deserves.
"Thanks to the tireless work of our previous Conservative MP Dean Russell in securing the funding, Watford can expect to see a big boost in local business, job opportunities and to the local economy overall, which will benefit all residents in the long term."
The transformation of Watford’s Town Hall complex will create what Watford Borough Council describes as a “welcoming, flexible space for businesses to launch or grow”. This new hub for innovation will be the first of its kind in south-west Hertfordshire.
It will also offer a new home for Watford Museum, which was awarded £2,454,347 from The National Lottery Heritage Fund, to support the creation of an “exciting and interactive new heritage service” in the Grade II listed building.
Meanwhile, the restoration of Watford Colosseum to its Art Deco splendour will deliver a first-class entertainment and performance venue, which will be managed by AEG Presents when it reopens.
The projects represent a crucial element of the council's ambitious ten-year Town Hall Quarter programme to stimulate substantial investment in the area
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