A regeneration project set to deliver over 1,000 new homes, jobs, green spaces, and cultural destinations in Northampton has taken a step forward.
West Northamptonshire Council (WNC) and ECF – a joint venture between Legal & General, Homes England, and Muse – have now entered into a Development Agreement to bring the vision to life.
The Greyfriars scheme will revitalise a long-neglected area in the heart of the town centre, creating a vibrant, inclusive, and well-connected community that supports healthier lifestyles, economic growth, and a renewed sense of place.
The 25-acre regeneration area includes the former Greyfriars Bus Station, Mayorhold and Victoria Street Car Parks, the Corn Exchange, Belgrave House, and the East and West Islands. The plans will deliver a mix of affordable, build-to-rent, and student housing, alongside shops, cafés, restaurants, and leisure spaces.
A new public realm, including an outdoor amphitheatre and revitalised green spaces, will enhance the town’s cultural offer and the scheme will also improve walking and cycling routes, connecting Greyfriars to the wider town centre and surrounding communities, and encouraging sustainable travel.
The economic impact is expected to be substantial, with up to 7,000 full-time equivalent jobs created during construction and over £1 billion in economic value unlocked. Once complete, the development is expected to boost local spending by an additional £21 million annually, supporting businesses across Northampton and the wider West Northamptonshire area.
Cllr James Petter, cabinet member for local economy, culture and leisure at West Northamptonshire Council, said: “This is a major milestone for a project that will redefine the future of Northampton and deliver lasting benefits for communities across West Northamptonshire.
“The regeneration of Greyfriars will not only revitalise a key part of our town centre but also strengthen our local economy, improve connectivity, and create a more inclusive and vibrant place to live, work, and visit.”
Sir Michael Lyons, chair at ECF, said: “West Northamptonshire Council has set out a bold vision for Greyfriars and we are looking forward to our collaborative and positive partnership.
“Entering a Development Agreement will enable us to take the next important step in the delivery of this important opportunity. It’s a chance to enhance Northampton town centre with new homes, workspaces, retail, culture, and public spaces.
“Together, we will move at pace to deliver a masterplan proposal which delivers against this opportunity.”
