A ‘once in a generation’ development at the former Forthside MOD site is expected to create more than 1000 jobs.
Money for the project could come from the UK Government Levelling Up Fund which provides an opportunity for local authorities to bid for a share of a £4.8bn sum.
Stirling Council has already received £125,000 of funding from the Government to develop a bid for the maximum available amount of £20m.
Councillors last week approved a paper noting the Levelling Up Fund’s purpose and the work carried out to identify a bid project and the submission of a final bid.
In a paper presented to councillors, head of economic development and culture Stuart Oliver said: “The development of the Forthside MOD site will unlock a significant mixed use development opportunity, the scale of which has not been realised in Stirling for a generation and is expected to create over 1000 additional jobs in support of the growth of high technology and creative sectors, with international ambition.
“The site, at just over 35 acres, is the largest brown-field site close to the city centre area.
“This presents a unique opportunity for Stirling to deliver a sustainable development which combines carbon neutral city centre living with dynamic business and leisure space.
“The positioning of the site, adjacent to the River Forth, existing Forthside developments and other proposed projects such as the National Tartan Centre provides a combined scale of development that will be a catalyst for an accessible, cultural and commercial gathering point, merging innovative businesses with heritage, environment and smarter green living.
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“The site’s proximity to Stirling’s district heating network and Stirling rail and bus stations will make this one of Stirling’s most sustainable developments which will be complemented by Active Travel investment connecting the site to the overall Active Travel programme currently progressing as part of the City Region Deal.”
While there is a risk the application is unsuccessful other funding routes would continue to be explored.
The core project is the development of the MOD land which will be transferred as part of the City Region Deal, but the site “will need significant capital funding to make it development-ready with all of the necessary infrastructure in place to enable further investment.”
SNP leader councillor Scott Farmer pointed out at last Thursday’s council meeting he understood there were contaminants on the site.
Legal manager Charlie Haggerty pointed out that an unexploded ordnance assessment had been provided to the council.
However, the council had not yet had access to the site to carry out its own investigations.
