Coming soon after Milton Keynes was named as one of 12 potential locations by the government’s New Towns Taskforce, Milton Keynes Development Partnership (MKDP) has unveiled an ambitious Business Plan and investment in transformative projects for the city, such as the creation of a new multi-purpose events venue in the city centre.
MKDP is an independent organisation owned by Milton Keynes City Council whose role is to strategically develop land assets to make Milton Keynes an even better place to live, work, and do business.
A key focus in its new Business Plan is to enhance the appeal of Central Milton Keynes, with dynamic facilities that the growing city deserves. Within this, MKDP plans to invest up to £76 million in a city centre events venue with a capacity for up to 4,000 people, bringing a wider range of performers to the city. This flagship project is expected to deliver £158 million in economic and community benefits and will create around 70 jobs.
Through the development of land assets, MKDP also generates funding to help deliver vital services and projects that benefit residents across the city. MKDP should provide £7.8 million to Milton Keynes City Council by 2027 and forecasts it will provide £23 million by 2035/36.
MKDP recently made a major upgrade to Station Square, investing in a dynamic new layout and planting which has offset growing maintenance costs from the ageing space. The Square – which is larger than Trafalgar Square – has been brought to life with a giant artwork from acclaimed British-Nigerian artist Yinka Ilori MBE and MKDP has received national praise from urban design experts.
Nicola Sawford, Chair of MKDP said: “We have a bold vision for Milton Keynes alongside the city council and are ready to invest in transformative projects to create spaces that people can enjoy and take pride in, and that will bring new dynamism to the growing city, such as the fantastic events venue. At the same time, we’re ensuring strong financial returns that will support vital services for our community. MKDP is committed to helping Milton Keynes grow as a vibrant, forward-thinking city.”
The Business Plan was received by City Council Cabinet in November and can be found on the MKDP website.