From https://www.insidermedia.com/news/yorkshire/plans-unveiled-for-1.5bn-once-in-a-generation-project?utm_source=yorkshire_newsletter&utm_campaign=yorkshire_news_tracker&utm_medium=top_story_article | Friday 25 October 2019
Development expected to create about 14,000 new jobs through the western dock's regeneration, a new outer harbour and port facilities.
Plans have been unveiled for a £1.5bn "once-in-a-generation" project that would see an 11km road built on the Humber between Hessle and Hedon Road.
Lagoon Hull is set to include a southern relief road built on the Humber Estuary, creating a lagoon that would form a new area of waterfront living, working and visiting.
The project would also improve flood defences, create a range of new facilities and support the creation of thousands of jobs.
The development would also support regional economic growth, creating about 14,000 new jobs through the western dock's regeneration, a new outer harbour and port facilities.
The project is expected to cost about £1.5bn, which will be met through both public and private investment.
Economic studies have predicted Lagoon Hull could unlock the potential to add £1bn GVA (gross value added) to the region's economy annually.
The concept is the brainchild of businessman Tim Rix, who tasked engineer Paul Hatley, of Wood and Partners, to test the feasibility of the idea.
Rix said: "The Lagoon Hull project is a once-in-a-generation opportunity to transform the future of the region. It addresses the key challenges of today and unlocks our region's potential for future economic growth, for placemaking and creating a city and region where not only will young people want to stay and build their lives, but that attracts new and talented people to live and work.
"It does all of this while at the same time, protecting Hull and the wider estuary from tidal flooding, even taking into consideration a rising sea level as a result of climate change."
Read the full story here.