Development benefits of Glasgow 2014 Commonwealth Games

The Glasgow 2014 Commonwealth Games come along at a key point in Glasgow’s economic cycle, bringing development and regeneration projects during a challenging economic period. Councillor Archie Graham, Executive Member for the Commonwealth Games at Glasgow City Council, explores some of the development benefits for the city. 25 January 2010

Over the past decade, Glasgow has welcomed a steady stream of developers and investors as large parts of the city have been transformed, with the most obvious physical manifestations of this being the creation of the International Financial Services District and the rebirth of the Clyde Waterfront through projects such as the Digital Media Quarter, the Riverside Museum and residential developments such as Glasgow Harbour, all of which have brought a huge number of jobs and investment.

Taking regeneration to the next level

These developments in the commercial, residential and leisure sectors, together with historically high levels of investment, reflected what was a tremendously exciting time for Glasgow, and the Games are now ushering in a new era in developing infrastructure, housing and sporting facilities all over the city.  This new era complements other recent developments to take Glasgow's regeneration to another level.

The focus for these developments can be found in the East End of Glasgow, with the building of one of Europe's biggest indoor facilities - the National Indoor Sports Arena and Sir Chris Hoy Velodrome - and the Athletes' Village, home to more than 6,500 competitors and officials in 2014 and a new neighbourhood of more than 1400 socially-rented and private homes in the years after the Games.

The former is located on a 10.5 hectare site, with the Athletes' Village being developed by the City Legacy consortium on 38.5 hectares of land.   The Athletes' Village will be a flagship development for Glasgow, with high-quality housing boasting environmental and energy credentials unique for a project of its size in Scotland.

Economic and social legacy

Alongside these is the creation of the SECC National Arena, another major project on the River Clyde, and two key infrastructure schemes, the completion of the M74 and the East End Regeneration Route.  Both will bring economic benefit through greater access and improved transport links to the city, stimulating local business growth and employment opportunities as well as making Glasgow even more attractive to investors.

These projects will all contribute to the successful delivery of a key part of the Games and later - in the case of the Athletes' Village - the creation of a stunning new neighbourhood for the city as Glasgow's regeneration continues.  In particular, the economic and social legacy of the Games should not be underestimated.

John Scott, Chief Executive, Glasgow 2014, underlined the growing sense of anticipation when he said,  "The excitement and sense of opportunity as we begin the countdown to the Glasgow 2014 Commonwealth Games is palpable: the next few years offer a golden opportunity for those wishing to live, work and invest in the city."

Reprinted with the permission of the Mortgage Finance Gazette.

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